Netflix to allocate 85% of new spending on original TV shows

Netflix exec says 85 percent of new spending will go towards original content

Is Netflix releasing content too quickly?

The streaming platform is all set to release its original production "Sacred Games" on 6 July featuring film stars Saif Ali Khan, Nawazuddin Siddiqui, and Radhika Apte.

In case you had any doubts that original content is a big priority at Netflix, Chief Content Officer Ted Sarandos estimated that 85 percent of the company's total spending is going to new shows and movies. He's also the TV Editor for IGN. That's an average of about 60 original shows and movies per month! Sacred Games is one of the upcoming shows.

Netflix, he added, will provide content that is cinema infused with television. "So that's how we're trying to invest in that market is not trying to go into the market and replicate what's on television, kind of like, what I told you about global and bring something new to the market", he noted.

Discussing the balance of watch-time between different types of content on Netflix, Sarandos said that up to 40% of viewing on domestic United States television is for unscripted programming, compared to just 7% on Netflix - giving the SVOD giant space to grow in this area.

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Speaking at the MoffettNathanson Media and Communications Summit in New York, Sarandos said that Netflix is shooting original programming in 17 different countries and confirmed that it aims to spend roughly US$1 billion on originals in Europe this year.

With hit Netflix originals like Stranger Things and The Crown returning in 2019, there are more than enough open weekends for Netflix original programming throughout the rest of the year. Netflix plans to produce 80 original films in 2018, ranging from "sub-indie" low-budget pictures to "USD 100 million blockbusters", Sarandos added.

Netflix will, for example, give Murphy the chance to "get a little out of his wheelhouse" if he wants to experiment with a different type of programme, said Sarandos.

Part of the context here is that numerous studios that have sold their content to Netflix in the past are now either saving it for their own streaming services or looking to raise the prices.

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