The popular online video streaming giant Netflix is strengthening its network by spending a whopping amount of around $12-13 billion in the current year itself.
It will be spent in producing in widening its platter of shows. A number of new shows are planned while curating the existing ones. The given estimated expenditure looks like to be more than any other TV or film studio this year, it is said.
About $9 billion was reported to be spent by Netflix on programming last year. In the preceding year, i.e. 2016, they are found to spend $7 billion.
As per the projections, Netflix will be delivering 82 feature films this year whereas Warner Brothers, are slated to release only 23 films.
Way back in 1997, Netflix’s model was based in DVD sales and rentals via mail. Since then, Netflix has grown as the pioneer in the streaming service and film and television industries.
Each month, its streaming service rolls out a number of new titles. Subscribers are also offered the opportunity to watch their favourite TV shows over its connection or see the updated contents the streaming service has in its kitty.
This way, Netflix has sustained in its business model for over two decades now.
The company also plans of producing 700 exclusively licensed television shows. It will add to about 100 scripted dramas and comedies shows, besides documentaries, and children’s programming.
With the huge spending this year, Netflix will be strengthening its base in offering the subscribers 82 feature films. On the other hand, Warner Brothers–the Hollywood studio with the biggest slate, has planned to showcase the theatres only 23 movies.
Besides its subscriber base in the territories of Hollywood, Netflix currently offers programs in 21 countries, which includes Brazil, Germany, India and South Korea.
Netflix’s success in the streaming industry and part of it is due to the amount of content the streaming service acquires and produces in their own studios.
They always work on a number of projects to offer something new to its subscribers.
The company banks on a solid base of subscribers which continues to grow. With their quite an impressive amount of spending this year, Netflix is trying hard to offer their subscribers as much content as it could possibly offer.