×
You will be redirected back to your article in seconds

Netflix Eyeing Total of About 700 Original Series in 2018

Netflix, set to spend upwards of $8 billion on content in 2018, will have in the neighborhood of 700 original TV shows on the service worldwide this year, according to CFO David Wells.

The huge bucket of content is driving up Netflix’s subscriber base, said Wells, speaking Tuesday at the Morgan Stanley Technology, Media & Telecom Conference. The “700-range” figure he cited includes 80 non-English-language original productions from outside the U.S., such as psychological thriller “Dark” from Germany and “Club de Cuervos” from Mexico. The total encompasses both new and existing original series (such as “Orange Is the New Black” and “Narcos”).

The company’s strategy continues to be, “Let’s continue to add content — it’s working, it’s driving growth,” Wells said.

Asked how much content spending is enough for Netflix, Wells replied that “there’s no magic line where you know exactly where you are” in terms of efficiency. In addition to original series, Netflix is planning to release 80 original films in 2018, chief content officer Ted Sarandos said last fall.

He also said there’s “no religion” at Netflix about the source of programming, although the company increasingly intends to produce its own content. “People don’t care where the stories come from,” he said. “We’re about having the best content. We don’t necessarily have to do it ourselves.”

Netflix ended 2017 with 117.6 million streaming members worldwide. “There’s more non-members than members of Netflix – that’s our opportunity,” Wells said, citing an estimated 700 million broadband users globally (excluding China).

Wells also discussed Netflix’s boosting its marketing budget. The company told investors last month that it plans to increase marketing spending more than 50% in 2018, from $1.3 billion last year to $2 billion this year.

“We used to think every incremental dollar was best spent on content,” but it’s increasing spending on marketing because “we think marketing is a multiplier on the content spend,” Wells said.

Asked about Netflix’s recent five-year exclusive deal with producer Ryan Murphy, Wells said such pacts are “somewhat rare… We aren’t doing 10 of them, we aren’t doing 20 of them.” The company last summer signed a similarly massive deal with Shonda Rhimes, ABC’s most prominent producer.

Regarding Murphy, “we like the kind of content he creates,” which appeals to audiences not just in the U.S. but globally, Wells said. Murphy’s production company is behind Fox drama “9-1-1” and FX’s “American Crime Story,” “American Horror Story” and “Feud” anthologies.

Pictured above: “Stranger Things,” which Netflix has renewed for a third season

More Digital

  • T-mobile - Netflix - John Legere

    T-Mobile Passes Netflix Price Hike Through to Subscribers

    T-Mobile is getting ready to raise prices for subscribers who have taken advantage of its “Netflix On Us” promotion: The mobile carrier will begin charging existing customers who have participated in the promotion an additional $2 per month to account for Netflix’s recent price increase. Consumers will see their bill go up starting on 6/2. [...]

  • Oona King

    Snap Hires Google Exec Oona King as First VP of Diversity and Inclusion

    Snap continues to fill out the ranks of its revamped leadership team: The Snapchat parent tapped Oona King, most recently Google’s director of diversity strategy and a former member of British Parliament with the Labour Party, as its first VP of diversity and inclusion. King, who starts at Snap on June 11, is also the [...]

  • Chrissy Teigen

    Chrissy Teigen to Rule Over Small-Claims 'Chrissy's Court' in Show for Jeffrey Katzenberg's Quibi

    Chrissy Teigen is going full-on “Judge Judy” in a reality show ordered by Quibi, the mobile-video subscription start-up venture founded by Jeffrey Katzenberg. In each episode of “Chrissy’s Court,” the model-influencer will reign as the “judge” over one small-claims case. Like the reality TV shows it’s patterned after, the plaintiffs, defendants, and disputes are real [...]

  • IGTV-Landscape

    Instagram's IGTV Adds Support for Horizontal Videos — but Still No Monetization

    Instagram is still searching to find the right recipe for IGTV, the long-form video service it debuted nearly a year ago. In the hopes of encouraging usage of IGTV, Instagram is breaking the original design that allowed only vertical video– to now support horizontally oriented videos as well. It’s a change that bows to the [...]

  • Facebook Logo

    Facebook Took Down 2.2 Billion Fake Accounts in Q1

    Facebook saw a huge jump of bots trying to create fake accounts during the first quarter, with the company revealing Thursday that it took down 2.19 billion such accounts over the first three months of this year. “We’ve seen a steep increase in the creation of abusive, fake accounts on Facebook in the last six [...]

  • Netflix Unveils Lonely Island Musical Tribute

    Netflix Unveils Lonely Island Musical Tribute to Jose Canseco, Mark McGwire

    The Lonely Island comedy troupe has dropped a half-hour Netflix special featuring a musical tribute to baseball greats Jose Canseco and Mark McGwire. “The Lonely Island Presents: The Unauthorized Bash Brothers Experience” features Andy Samberg and Akiva Schaffer as the former Oakland Athletics teammates who became known as “the Bash Brothers” for their prowess at [...]

  • Rotten Tomatoes

    Rotten Tomatoes Revamps Movie Audience Scores to Focus on Verified Ticket Buyers

    Rotten Tomatoes is dramatically changing its Audience Score methodology for movies: The site’s standard user rating will now reflect only moviegoers who can prove they’ve bought a ticket to see it in a theater. It’s another troll-fighting move by Rotten Tomatoes, designed to curb coordinated “review bombs” aimed at pushing down the Audience Score for [...]

More From Our Brands

Access exclusive content