×
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

More TV

  • Globe Centred On Asia And Oceania,

    APOS: Online Video Headed for 15% Annual Growth, Disrupting Asia Markets

    A blistering 15% annual growth of online video will give the Asian video industry (TV, pay-TV, home entertainment and streaming) a growth rate nearly double that of North America for the next five years. According to a new report from Media Partners Asia, published on the eve of the APOS conference in Indonesia, Asia’s online [...]

  • WGA Agency Packaging Fight Placeholder Writer

    Writers Guild Says Over 7,000 Members Have Fired Agents

    Over 7,000 members of the Writers Guild of America have fired their talent agents, the Hollywood union said on Monday. As promised, the guild delivered a first round of termination letters to agents in a show of support for the WGA’s full-on war with the Association of Talent Agents. “Today the Guild delivered a first [...]

  • The Spanish Princess Starz

    TV Review: Starz's 'The Spanish Princess'

    With sumptuous costumes and a cast including a couple of familiar and beloved costume-drama players, Starz’s “The Spanish Princess,” about the travails of Catherine of Aragon, seems designed to appeal to lovers of broadly drawn historical romance. (It hits the air May 5 with a built-in fandom: Like past Starz miniseries including “The White Queen,” [...]

  • TV News Roundup: Jada Pinkett Smith's

    TV News Roundup: Amazon's 'Sneaky Pete' Releases Season 3 Trailer

    In today’s TV news roundup, Amazon Prime Video releases a trailer for Season 3 of “Sneaky Pete,” and “Red Table Talk” with Jada Pinkett Smith sets a return date on Facebook Watch. FIRST LOOKS The official trailer for the third season of “Sneaky Pete” on Amazon Prime Video has been released, showing off the new [...]

  • Tammy Filler Nathan Najarian NBC

    E! Expands News Coverage, Brings 'Today' Vet Tammy Filler Aboard (EXCLUSIVE)

    E! is expanding its entertainment-news programming, with plans to add three more hours of coverage to its linear schedule in 2020, Variety has learned. To help spearhead the effort, the cable channel is bringing aboard Tammy Filler, a veteran producer on NBC’s “Today,” to lead creative and production for E! News. The expansion of news [...]

More From Our Brands

Access exclusive content