|
 Netflix
has at least 700 original TV shows and movies on the service this year. Netflix
CFO David Wells says the streaming service will spend at least $8 billion on
content in 2019 is planning on adding even more content. When asked how much
content spending is enough, he says "there’s no magic line where you know
exactly where you are." And the company will add to their marketing spending in
2019 to over $2 billion, which is double what they are spending now. The 700
shows include 80 original productions from outside the U.S. One is their first
original Arabic series called Jinn. Programming includes documentaries, comedy
specials, event series, co-productions, children’s programming, anime, talk
shows, reality series, drama series, comedy series, and their international
distribution of Star Trek: Discovery, Riverdale and The Good Place. In 2017
Netflix had 117.6 million streaming members worldwide. And the company is
considering buying some existing movie theaters to run films made by the company
to make them eligible for the Oscars. The theaters would be in Los Angeles and
New York. At one point they considered buying Mark Cuban’s Landmark Theatre
chain, but backed off because the sale price was too high. Netflix had spent $90
million dollars on David Ayer’s Bright, which would have run in theaters if the
company owned them. That number has now been dwarfed with the announcement of
the Michael Bay/Ryan Reynolds film Six Underground, which has a production
budget of around $150 million. The film will tell the story of six billionaires
who fake their own deaths and form an elite team to take down criminals. |
