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Netflix fast-forwards original program spending

Netflix announced this week they are upping the ante on original programming, increasing their spending for new movies and shows next year to $8 billion instead of the $6 billion they originally set aside.

That shakes out to about 80 new films next year, according to a report from CNN Money.

The streaming giant said in its earnings release Monday that their future profits definitely lie in the realm of exclusive programming. That’s been demonstrated by developments like Disney pulling content from Netflix to start its own streaming service.

To that end, Netflix is also focusing on bigger partnerships with creators. Shonda Rhimes announced in August her Shondaland production company will make several new series for Netflix, and the company recently acquired the Millarworld home of comics creator Mark Millar. He’s known for the Kingsman, Wanted, and Kick-Ass series.

“Our goal is to work with the best creators in the world,” the earnings statement said.

More spending on original content means a bigger buy-in from consumers, though: subscribers are facing a one-dollar increase in subscription fees for the most popular plan, which will now cost $10.99.



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