Netflix Set to Spend $17 Billion on Content in 2021
Netflix is the original streaming platform giant that got us all to binge our favorite shows, old and new, and gave us a steady stream of all types of new content to enjoy. While some streamers have come and gone over the years, Netflix has proved to be a staple, and is sticking around. Not only are they here to stay, but they are shelling out a ton of cash to do it.
In a first quarter financial report, Netflix stated to its shareholders:
“While the roll out of vaccines is very uneven across the world, we are back up and producing safely in every major market, with the exception of Brazil and India. Assuming this continues, we’ll spend over $17B in cash on content this year and we’ll continue to deliver an amazing range of titles for our members with more originals this year than last.”
$17 billion is a lot of freaking money! But they are of the mindset that it takes money to make money, and that has rung true for the streaming services that have done well. Netflix knows they have other competitors with Apple, Hulu, and HBO Max, so their best bet is to keep the content fresh, and keep it coming.
Deadline reports that in 2019, the company spent a touch more than $15B and was estimated to have spent around $17B in 2020 with analysts including BMO Capital Markets’ Dan Salmon estimating that it could spend up to $26B by 2026.
I don’t care what they spend as long as I get more Cobra Kai, Stranger Things, and Umbrella Academy. What are your favorite Netflix series?
Source: Deadline