Netflix plans to spend around $18 billion on content this year – and chief financial officer Spencer Neumann thinks that number could increase down the line. “We are not anywhere near a ceiling,” Neumann said during the Morgan Stanley Tech, Media, and Telecom Conference this week, as reported by Variety. “I think we are still just getting started.”
Netflix’s spending has increased from $16.2 billion last year as the company continues to expand its lineup of live content with the addition of WWE’s Monday Night Raw, John Mulaney’s late-night talk show, and this summer’s live boxing match between Katie Taylor and Amanda Serrano.
RelatedNetflix won the streaming wars, and we’re all about to pay for it
“We see the opportunity to grow everywhere,” Neumann said, according to Variety. “We want to stay in growth mode versus maintenance mode as long as possible.” He added that Netflix aims to deliver “more and more entertainment value per dollar.”
Earlier this year, Netflix announced yet another price hike, while its subscriber count increased to 300 million. The service still has big competition with YouTube, which has dominated Nielsen’s list of the most-watched streaming services for the past two years. Neumann said Netflix wants to tackle the part of the streaming market that “neither of us are capturing,” such as traditional TV, Variety reports.
Post a Comment