El Paisano

Netflix to Spend $8 Billion in Original Content in 2018

The streaming giant looks to have 50% of it's website to be original content.

Anthony Moreno, Reporter

Netflix just revealed they plan on spending up to 8 billion dollars in 2018. The streaming service looks to have at least half of the website with original content. This is not the first time Netflix has promised to spend a huge amount of money for originality. This is a pretty big spike from the promised $6 billion from this year. Netflix is already spending much more than its competitors HBO, FX, and CBS.

This original content does not just include projects produced by Netflix. This includes content that is acquired from outside sources such as festivals like Sundance, Canne, TIFF. With this money, Netflix has promised to release 30 anime series and up to 80 films. This also would include new seasons of it’s most popular shows like Orange is the New Black and Stranger Things. Netflix has also recently signed contracts with two of the most famous showrunners in television history. Shonda Rhimes (Grey’s Anatomy, Scandal) and Ryan Murphy (Glee, American Horror Story, Nip/Tuck) are releasing new content next year produced by Netflix.

This price tag is coming on the heels of some big wins for Netflix’s competition. Hulu’s The Handmaids Tale just won four Emmy’s, including Outstanding Lead Actress in a Drama Series and Outstanding Drama Series and Amazon’s Manchester by the Sea which won Best Actor and Best Original Screenplay at the Academy Awards. Netflix is clearly trying to join beat out its competitors. Although Netflix has won some pretty big awards none have been from the main categories.

This new budget can only increase Netflix subscribers in the new year. Netflix gains most of their new subscribers through the international market and the domestic subscribers should also be pleased. Here’s to 2018, the year of the couch potato!

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Netflix to Spend $8 Billion in Original Content in 2018