Netflix has had its share of ups and downs lately. They’ve outperformed all of their competitors, have exceeded their own growth expectations, and have seen their stock soar more than 10% in a day. However, with Disney pulling out of their 2012 deal, which allowed Netflix to be the sole platform for streaming new Disney films, they’ve also lost great content opportunities, and will likely face fierce competition down the road. Still, Netflix seems undeterred, and if todays news tells us anything, they might be more ambitious than ever.
In an interview with Variety, Ted Sarandos, Netflix’s chief content officer, revealed that they would be expanding their budget for original shows again in 2018 – by another billion dollars. In 2017 the budget was $6 billion, making next years budget a monumental $7 billion. This well exceeds the budget of any of their competitors, like Hulu and Amazon, and is enough to make even the biggest of hollywood bigwigs sweaty and nervous.
Certainly, you could rationalize that number and say that the funding doesn’t necessarily promise quality content – and I would agree. However, Netflix has been slowly curating its lineup into only the best and brightest shows. Clunkers like Bloodline are being burnt away like deadwood in favor of new programming and returning favorites, like Master of None, House of Cards, Orange is the New Black, and my personal favorite, the Wet Hot American Summer series. Those new shows aren’t anything to laugh at, and small shows like Castlevania and Little Witch Academia turned out exceptionally well given their nature, and with more funding to go around, who knows how many more hidden gems will pop up in our queues?[via Variety]