Netflix is leaning into original programming more than ever. In the company’s Q3 2017 letter to shareholders, Netflix noted that is has $17 billion in “content commitments over the next several years” and an original content budget that “will continue to grow.”
So far this year, the streaming giant has dedicated over a quarter of its content budget to Netflix originals. Its owned content offerings reached $2.5 billion in value by the end of Q3, and the company plans to spend up to $8 billion next year.
Originals aside, Netflix has made other aggressive moves in attracting big-name talent this past quarter. “We are progressing even further up the value chain to work directly with talented content creators,” said the letter to shareholders. This includes a deal Netflix announced in August with Shonda Rimes, who’s responsible for popular series like Grey’s Anatomy, Scandal, and How to Get Away with Murder.
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So far this year, the streaming giant has dedicated over a quarter of its content budget to Netflix originals. Its owned content offerings reached $2.5 billion in value by the end of Q3, and the company plans to spend up to $8 billion next year.
Originals aside, Netflix has made other aggressive moves in attracting big-name talent this past quarter. “We are progressing even further up the value chain to work directly with talented content creators,” said the letter to shareholders. This includes a deal Netflix announced in August with Shonda Rimes, who’s responsible for popular series like Grey’s Anatomy, Scandal, and How to Get Away with Murder.
Visit Tubefilter for more great stories.
- 10/17/2017
- by Jessica Klein
- Tubefilter.com
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