Netflix is planning on creating 700 original TV series and movies in 2018, which is great news for aspiring actors.
Netflix is planning on spending upwards of $8 billion on content in 2018 and will have around 700 original TV shows and movies on the service this year, according to the company’s CFO David Wells.
A significant amount of new and original content is driving up Netflix’s subscriber base, said Wells, speaking Tuesday at the Morgan Stanley Technology, Media & Telecom Conference. The “700-range” figure he cited includes 80 original productions from outside the United States.
Ultimately, the company’s strategy is simple, “Let’s continue to add content — it’s working, it’s driving growth,” Wells said.
When the CFO was asked how much content spending is enough or Netflix, he responded “there’s no magic line where you know exactly where you are” regarding efficiency.
He also said there’s “no religion” at Netflix about the source of programming. However, the company is increasingly planning on creating their content. “People don’t care where the stories come from,” he said. “We’re about having the best content. We don’t necessarily have to do it ourselves.”
Netflix ended 2017 with 117.6 million subscribers around the world. “There are more non-members than members of Netflix – that’s our opportunity,” Wells said, citing an estimated 700 million broadband users globally (excluding China).
Wells also discussed Netflix’s boosting its marketing budget. The company told investors last month that it plans to increase marketing spending more than 50% in 2018, from $1.3 billion last year to $2 billion this year.
“We used to think every incremental dollar was best spent on content,” but it’s increasing spending on marketing because, “we think marketing is a multiplier on the content spend,” Wells said.
When asked about Netflix’s recent five-year exclusive deal with producer Ryan Murphy, Wells said such contracts are somewhat rare. We aren’t doing 10 of them; we aren’t doing 20 of them.” He added, “we like the kind of content he creates,” which appeals to audiences not just in the U.S. but globally, Wells said.
Ultimately, Netflix’s huge billion dollar investment in the film industry and creating new and original content provides hundreds of new opportunities for aspiring actors.
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