Netflix plans to spend $8 billion to make its library 50 percent original by 2018 – The Verge

Netflix plans to spend $8 billion to make its library 50 percent original by 2018 - The Verge

Netflix plans to spend $8 billion to make its library 50 percent original by 2018 – The Verge

Netflix plans to increase the amount of money it spends on developing and producing original television and films next year, to an eye-popping $8 billion. The company has given a ballpark projection near that amount in the past, but Netflix bumped it up during its third-quarter earnings announcement today by an additional $1 billion to make clear to investors and Hollywood both that it plans spends to quite a lot of money to lock down ownership of its own entertainment.With Disney and other high-profile names increasingly moving content into closed garden ecosystems, Netflix’s future lies in making sure it controls its own destiny, and in ensuring it doesn’t take too big a hit when third-party content owners pull licensing deals out from under its feet. The ultimate goal, reiterated today by Netflix executives, is one the company has laid out before: a library containing 50 percent original TV and film content by the end of next year.

Source: Netflix plans to spend $8 billion to make its library 50 percent original by 2018 – The Verge

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