×
You will be redirected back to your article in seconds

Netflix Released Record-High 676 Hours of Original Programming in Q3

Netflix flooded its U.S. streaming service with an all-time high tonnage of original TV shows and movies in the third quarter of 2018 – a positive signal that the No. 1 subscription-video service will hit its customer-acquisition targets, according to a new report from Wall Street firm Cowen & Co.

The company bowed nearly 676 hours of originals for the quarter ended Sept. 30, which is equivalent to about 28 full days. That’s more than double the amount of Netflix originals launched in Q3 2017 (289 hours) and up 50% from 452 hours in Q2 2018, Cowen & Co. estimated. The relative quality of that glut of new content is debatable, but Netflix’s track record shows that greater amounts of exclusive programming leads to higher sub growth and lower churn.

In the most recent quarter, the company released new seasons of “Orange Is the New Black,” “Marvel’s Iron Fist” and “Bojack Horseman,” along with controversial drama “Insatiable” and Cary Fukunaga-directed psychological thriller “Maniac,” starring Emma Stone and Jonah Hill.

Other shows that debuted in the period included new seasons of Jerry Seinfeld’s “Comedians in Cars Getting Coffee,” “Chef’s Table” and “Anne With an E,” as well as “Ultraviolet,” “Undercover Law,” “Take My Brother Away,” “Sacred Games,” “Sugar Rush,” “Cocaine Coast,” “On Children,” “The Epic Tales of Captain Underpants,” stand-up specials “Jim Jefferies: This is Me Now” and “Iliza Shlesinger: Elder Millennial.”

Netflix told investors it expects to add 650,000 net new U.S. streaming subs and 4.35 million internationally for Q3. Netflix fell well short of forecasts for sub growth in Q2; the company is scheduled to report third-quarter 2018 earnings on Oct. 16 after market close.

Netflix’s subscriber forecast is achievable given its “increasingly robust original content slate,” as reflected by the record-high release cycle in the quarter, along with continued strength overseas driven by local originals and set-top box integrations, plus the company’s boost in originals marketing, wrote the Cowen & Co. analyst team, led by John Blackledge.

Ted Sarandos, Netflix’s chief content officer, speaking at Vanity Fair’s New Establishment Summit in L.A. Tuesday, disputed the idea that the streamer’s high programming output leaves some of its originals “lost” in the mix. “The notion that things get ‘lost’ on Netflix is silly. Things get found on Netflix,” because of its content-recommendation engine, Sarandos said, per a CNN report. “People say, ‘You have so much to watch.’ Yeah, but it’s not all for you.”

Netflix is expected to reach $13 billion in gross content spending in 2018, and execs have said the company is on pace to have launched a total of 700 original series by the end of 2018. It’s made big real-estate moves to accommodate even more productions, with plans to establish a studio hub in Albuquerque, N.M., and acquiring a lease on a new 13-story building in Hollywood that’s set to open in 2020.

Meanwhile, Netflix continues to hold a significant lead as the No. 1 preferred platform for watching video on TVs — beating broadcast and cable TV, as well as YouTube and other streaming services. On Cowen & Co.’s August survey of 2,500 U.S. consumers, 27.6% picked Netflix as the place they used “most often” to watch video content on TVs, followed by basic cable (20.2%), broadcast (17.5%), YouTube (11.6%), Hulu (5.6%), Amazon Prime Video (5%) and premium cable (4.6%). That’s in line with survey results Cowen & Co. published in July.

Pictured above: “Orange Is the New Black” season 6

Popular on Variety

More TV

  • Courtney Kemp Agboh'Power' TV show final

    'Power' Creator Courtney A. Kemp On Why Starz Series Hasn't Gotten Awards Recognition

    “Power” is a top ratings performer for Starz and has a hugely committed fanbase, but the series has lacked in its awards recognition. Other than honors from the NAACP Image Awards, “Power” has not received any awards or nominations from the Emmys, Golden Globes or SAG — something that star and executive producer Curtis “50 [...]

  • Breaking Bad Movie

    'Breaking Bad' Movie: Watch the First Teaser for 'El Camino'

    In case you hadn’t heard, Emmy-winning drama “Breaking Bad” is cooking up a movie sequel. On Saturday, after details of Netflix’s project quietly leaked online, the streaming giant issued the first teaser for “El Camino: A Breaking Bad Movie,” which will be released on October 11. Starring Aaron Paul as Jesse Pinkman, the “Breaking Bad” [...]

  • Breaking Bad

    'Breaking Bad' Movie Release Date, Title and Plot Revealed

    The “Breaking Bad” movie is coming to Netflix sooner than you might think. The film, titled “El Camino: A Breaking Bad Movie,” is now set to be released on Netflix on Oct. 11, according to a report from the New York Times, with Aaron Paul returning as the series’ popular meth cook Jesse Pinkman. Jesse [...]

  • Laurence FishburneNational Memorial Day Concert Dress

    Laurence Fishburne to Produce 'Marvel's Moon Girl and Devil Dinosaur' Series for Disney Channel

    Laurence Fishburne is stepping into the animation game. The “Matrix” star is set to executive produce “Marvel’s Moon Girl and Devil Dinosaur,” an animated series which has been given the greenlight at Disney Channel. Based on Marvel’s comic book series, the show hails from from Disney Television Animation and follows the adventures of 13-year-old super-genius [...]

  • Aracne

    Chile’s Sanfic, Mexico’s Morbido Fest Pact to Promote Latino Horror (EXCLUSIVE)

    Mexican horror festival Morbido and Chile’s Santiago Intl. Film Festival (Sanfic) have agreed on a long-term collaboration intended to strengthen the genre film industry in Chile and across Latin America. This partnership will see Morbido representatives attend the Sanfic industry section each year to aid in the promotion of horror projects and advise those projects [...]

  • 'The Simpsons' Producers on Disney, Spinoffs

    'The Simpsons' Producers Talk Potential Disney Spinoffs, Confirm Apu Will Remain

    “The Simpsons” has never shied away from lampooning Disney over the years, but maybe that’s no longer the case. Homer, Marge and co. are of course now part of the Disney family and made their first appearance at the Mouse House’s D23 Expo convention, where the show’s producers were asked plenty of questions about what [...]

More From Our Brands

Access exclusive content