Yahoo Finance Netflix To Spend $17B On Content In 2021
Netflix has revealed that it will spend $17B on content in 2021 – on par with its 2020 spend.
The streamer noted the figure in its first quarter financial results.
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“While the roll out of vaccines is very uneven across the world, we are back up and producing safely in every major market, with the exception of Brazil and India. Assuming this continues, we’ll spend over $17B in cash on content this year and we’ll continue to deliver an amazing range of titles for our members with more originals this year than last,” it noted in its shareholder letter.
In 2019, the company spent a touch more than $15B, up from $12B in 2018, and was estimated to have spent around $17B in 2020 with analysts, including BMO Capital Markets’ Dan Salmon, estimating that it could spend up to $26B by 2026.
This comes as the service revealed ratings figures for a slew of originals, including Who Killed Sara?, which had the biggest launch for a Netflix foreign-language series. The streamer No.1 original series overall is Bridgerton, which smashed Betflix’s ratings records earlier this year.
Netflix is also starting to face competition in terms of content budgets with the likes of Disney+ looking to spend around $8B a year over the next few years and fresh challenges from the likes of Apple TV+ and Amazon.
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