Netflix is sharply steering its new content spending toward original projects, with around 85% of new spending going to original TV shows, films and other productions, according to chief content officer Ted Sarandos.
The subscription-streaming leader has pegged its content spending for 2018 to be up to $8 billion. Sarandos, speaking Monday at MoffettNathanson’s Media & Communications Summit 2018 in New York, declined to break out what portion of that is licensed vs. original spending but said the bulk of new spending is on originals.
Netflix will have around 1,000 originals total on the service by the end of 2018, with 470 of those set to premiere between now and end of the year, according to Sarandos. More than 90% of Netflix’s customers regularly watch original programming, he added.