Netflix isn’t holding back!
The streaming giant plans to spend a whopping $8 billion on programming in 2018, putting out 80 original films (this averages to a new film ever 4.5 days) in 2018.
The news was announced during a 3rd quarter earnings call today.
“They range anywhere from the million-dollar Sundance hit, all the way up to something on a much larger scale,” said Netflix chief content officer, Ted Sarandos.
In reference to the upcoming film, Bright, the sci-fi buddy cop film starring Will Smith and Rober DeNiro, Sarandos said, “I think people will start seeing the potential for this original movie initiative, that it could be done on the enormous scale we have on the television side.”
The goal is to make Netflix’s library 50 percent original by the end of next year.“There’s no timing correlation between our intent to grow content and to grow content spending and the price increases. This has been planned for a long time,” said CFO David Wells.
“There’s no timing correlation between our intent to grow content and to grow content spending and the price increases. This has been planned for a long time,” said CFO David Wells.
Aside from Bright, another notable upcoming original release from Netflix is Dee Rees’ Mudbound.