Netflix's 85% spending towards original content

Netflix chief content officer Ted Sarandos. Image from Twitter/@sarcastard1

If you need new shows and movies to watch, Netflix should have you covered pretty well for the rest of the year.

Netflix will have around 1,000 "originals" by the end of the year, according to the company's chief content officer Ted Sarandos.

Ted didn't reveal much while speaking at the MoffettNathanson Media & Communications Summit 2018 in NY, but we do know that the platform is not moving towards live sports or news. More than 90% of Netflix's customers regularly watch original programming, he added.

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Around 470 of the streaming service's originals are set to premiere between now and the end of 2018, which equates to around two new releases a day on average. In total, the company expects to spend $8 billion this year, though he wouldn't specify the exact amount for originals versus licensed content. The other main method for Netflix to pay the bills is through those monthly subscription fees paid by its members. 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.

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. Aside from classics, Netflix has made bank by introducing their own original content. Programs such as Strangers Things, Bright, Orange is the New Black, Narcos, Master of None and more are all helmed by Netflix itself.

"Some subscribers are wiling to absorb materially higher pricing than what they are paying now", Olson said, "We found that a higher percentage of subscribers are willing to pay a higher monthly fee, suggesting Netflix content has improved in such a way that there is increased value to the subscriber base versus two years ago".

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