MUMBAI: Worldwide Netflix lovers will have a gala time as the content provider will launch 1000 originals on its platform by the end of 2018.
Speaking at a conference, Netflix CCO Ted Sarandos said that 85 per cent of Netflix’s new spending on content is going toward the company’s own original works. Netflix already revealed that it would spend $8 billion this year for overall content.
The streaming giant is increasingly shifting to its own content instead of reruns and movies made by others. The direction is more driven by economic reasons as there are predictions that big media companies would eventually go for their own streaming subscription services.
However, earlier there were reports that only 20 per cent of US users' viewing is made up of originals. Sarandos reacted that more than 90 per cent of Netflix’s customers regularly watch original programming. Some of this investment is recovered through the monthly subscription fees people pay.
Usually SVOD platforms raise their subscription rates seldom but a recent survey found that Netflix subscribers might be willing to pay even more than they do now. Another survey found that two-thirds of Netflix’s US subscribers would stick with the service even if it raised prices to $15 a month or more.
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