$13 billion in spending, 82 original films, and no more online reviews: Forecasting Netflix’s future by the numbers
Netflix’s revolution will be televised. From its beginnings as a DVD rental service, the company has now grown into a streaming giant.
Netflix’s revolution will be televised.
From its beginnings as a DVD rental service, the company has now grown into a streaming giant. Yesterday, Netflix earned 112 Emmy nominations, ending HBO’s 17-year streak as the leading TV network. The company’s progress, however, doesn’t end there. Netflix plans to spend up to $13 billion on original programming this year and intends on releasing 82 original films. That puts Netflix’s allocated investment on films ahead of any other studio.
In fact, Chief Content Officer Ted Sarandos said the company aims to release more original movies than Disney, Warner Bros., and Universal Pictures put together. With a long-term budget for movies and TV shows totaling $17 billion, a future dominated by Netflix seems likely. As Netflix adds more original content, they’ll also be removing customer reviews starting August of this year.
With Netflix’s growing library, will consumers be more inclined to stay home? And what does that mean for the future of television and movies? We discuss what lies ahead with KPCC critics Wade Major, Claudia Puig and Charles Solomon.
Claudia Puig, film critic for KPCC and president of the Los Angeles Film Critics Association; she tweets