Netflix is looking to spend a huge $7 billion in 2018 as it moves towards its target of making half of the programming on its service Netflixoriginal content. The video-streamer has scored some major successes in recent months, most notably luring retiree David Letterman back to the small screen, picking up Jerry Seinfeld’s Comedians in Cars Getting Coffee series, and grabbing new shows from big hitters like the Coen brothers and Steven Soderbergh.
Fast-growing Netflix has 104 million subscribers in 190 countries, and chief content officer Ted Sarandos tells Variety that its content expenditure is sustainable. “We’re not spending money we don’t have,” he says. “We’re spending revenue.”
He also explains why original content is key to Netflix. ““The more successful we get, the more anxious I get about the willingness of the networks to license their stuff to us,” he says.
Image: Comedians in Cars Getting Coffee
For that deeper dive:
What helped turn Netflix from a mere mail-order company into a cultural behemoth? – Wired
Now there’s a virtual reality game to go with Netflix's new Voltron series – Endgadget