Netflix spending billions on content in 2020
Did know how money is spent in creating content on video streaming platforms? Lets talk about how much Netflix and its competitors are aiming to invest in 2020.
This just means you have more content to look out for in the year 2020. Don't worry Netflix plans to produce various originals for your #netflixandchill.
According to TubeFilter Netflix spend $17.3 billion cash on content, as per BMO Capital Markets forecast. That’s $1.9 billion more than the $15.3 billion it spent last year,more than any other service’s confirmed or estimated annual budgets.
Most of the billions were spent on originals since 2018, which is about 85% of its budget.
Here is what is happening with Netflix's competitiors as per reports on Tube Filter:
- Amazon Prime Video and Hulu spent an estimated $6 billion and $3 billion, respectively, in 2019.
- Amazon is producing adaptations of fantasy touchstones The Lord of the Rings and The Wheel of Time, which is going to cost them a huge amount.
- Hulu is now 100% controlled by Disney, which is bound expand significantly this year as well.
- Apple has committed $6 billion to TV+, WarnerMedia is investing $2 billion in content for HBO Max, NBCUniversal
- Disney is spending $2 billion on Disney+–$1 billion for content, and $1 billion for operating costs, per Variety.
Wondering what that $17.3 billion will fund for Netflix?
Maybe extra seasons of The Witcher or You on the way? Netflix has also signed content deals with Nickelodeon Game of Thrones showrunners David Benioff and Dan Weiss.
Either way, it will be interesting to see what kind of content they'll produce this year.
What are your thoughts? Let us know in the comments below.
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