It is hard to believe but Netflix only started making original shows and movies about three years ago, and they have already won more than 90 awards for their original content. Now it sounds as if Netflix is looking to double down on new original content.
This week Netflix CFO David Wells told investors at a Goldman Sachs Communacopia Conference that Netflix wants originals to make up about half of its offerings.
“It will take us a couple more years” to hit that target, he says. “We’re a third to halfway to where we want to be. … We’ve got a ways to go” as the company looks for “a mixture of production models”—though not sports or ad-supported offerings.
Netflix is planning on spending over $1 billion every year until they hit the goal. Wells went on to say Netflix may even borrow money to keep producing original content.
Netflix clearly sees original content not only as a way to attract new customers but also a way to guarantee that they will own the content going forward and can do with it what they want.
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