Netflix is producing 700 original series and movies in 2018

4 months ago admin2 Comments Off on Netflix is producing 700 original series and movies in 2018
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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

Published 8 mins ago  |  Photo by Netflix
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During a speech this week, Netflix CFO David Wells described the company’s strategy as, “Let’s continue to add content—it’s working.”

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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.

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“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.”

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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.

qz.com