Netflix is aiming to build on the smash-hit success of Glow, Stranger Things, and The Defenders with 700 original productions in 2018, including 80 made outside the United States
During a speech this week, Netflix CFO David Wells described the company’s strategy as, “Let’s continue to add content—it’s working.”
Netflix paid an astounding $300 million to bring on high-profile producer Ryan Murphy (Glee, American Horror Story, The People v. O. J. Simpson), along with other Hollywood talent magnets.
“There’s some risk for us,” Wells admitted at Morgan Stanley’s TMT conference in San Francisco. “But in the grand scheme of the $8 billion in P&L spending… these deals are rare.”
Netflix’s $8 billion budget underscores an expected $20 billion in future payouts—but with the company now worth over $100 billion, it can afford to outspend major rivals like HBO, Disney, and Amazon.