Netflix Eyes Big Growth With 700 Original Shows & Movies This Year
Netflix has revealed it intends to notch a total of 700 original TV shows and movies this year, as the streaming giant affirms original content has been a key driver of its burgeoning growth.
The news follows Netflix’s decision to commit $8 billion on original content in 2018.
As mentioned to Variety, Netflix CFO David Wells states its goal of 700 original titles includes 80 original productions from outside of the United States.
“Let’s continue to add content, it’s working, it’s driving growth,” adds Wells.
Wells claims, however, good quality content irrespective of source is integral:
“People don’t care where the stories come from. We’re about having the best content. We don’t necessarily have to do it ourselves”.
At the end of 2017, Netflix reportedly notched a global membership base of 117.6 million subscribers.
Citing an estimated 700 million global broadband users, Mr Wells states the company has its sights on broader growth:
“There’s more non-members than members of Netflix – that’s our opportunity”.
Disclosed at an investors meeting last month, Netflix has revealed further increases in its marketing budget. It forecasts a 50% year-on-year marketing increase.
“We think marketing is a multiplier on the content spend”, states Wells.