Netflix to Spend Over $17 Billion on Content in 2022 2023

Netflix has become synonymous with the word “streaming service” in recent years because of its continued commitment to bringing us the movies and shows we want. But in an age where almost every movie production company has its own service, from Peacock to Disney+ and HBO Max to IMDbTV, it’s getting harder and harder to keep up with the amount of content being released.

But Netflix is ​​on the right track. Even though many of our favorite movies and shows come and go, Netflix Originals have proven themselves worthy of our undivided attention, largely because the streaming giant continues to pump the million dollars on them. And they won’t stop any time soon.

Based on DiversityNetflix plans to spend more than $17 billion on its own content this year (2021), which will break some records… Let’s see what the company announced in a letter to the Their shareholders are below:

“As we have previously noted, production delays due to Covid-19 in 2020 will result in a heavier 2021 production schedule in the second half of the year with A large number of returning franchises.” “And while the vaccine rollout is very uneven around the world, we are back up and producing safely in every major market except Brazil and India. Assuming this continues, we’ll spend more than $17 billion in cash on content this year, and we’ll continue to deliver more great titles to our members with more original titles this year compared to last year.”

This is a huge change compared to the past 2 years when Netflix only spent 11.7 billion USD in 2020 and 13.9 billion USD in 2019 (according to Movie Slash). The streaming giant apparently doesn’t want to waste any time after last year’s COVID-19 restrictions shut down many of Netflix’s properties, forcing release dates to be pushed back to this year. However, this hasn’t really hurt Netflix in the long run, as COVID-19 has pushed people into the comfort of their own living rooms to watch Netflix all day…

According to Netflix’s first-quarter earnings report, originals like Fate: The Wynx Saga reached 57 million households, while Ginny & Georgia pulled in 52 million. The third season of YouTube-to-Netflix hit Cobra Kai has reached 45 million, with the first season of Firefly Lane reaching nearly 50 million households within its first thirty days.

Netflix originals like Outside the Wire and Yes Day both surpassed 60 million household views, while others like I Care A Lot and To All The Boys: PS I Still Love You reached over 50 million.

With the long-awaited new fourth season of the Netflix Originals hit Stranger Things and Ozark still awaiting a release announcement (with all signs pointing towards 2022), it looks like Netflix is ​​preparing to deliver giving us some new and exciting content to keep us occupied.

Categories: Entertainment
Source: Tekmonk Bio