Netflix may have started out as an online video streaming service that made it very easy for you to stream TV shows and movies from other networks and studios but it has since grown into a veritable original content powerhouse.
Chief Content Officer at Netflix Ted Sarandos estimated 85 percent of the company's total spending is going to new shows and movies, TechCrunch reports.
We're excited to see how Netflix continues to grow and evolve its programming in the coming years, and the awesome new content the streaming service will be sending our way soon.
In a wide-ranging conference discussion, Sarandos commented that "90%-plus of our customers regularly watch our original programming" and discussed the value in striking output deals with major producers like Ryan Murphy (American Horror Story), Shonda Rhimes (Grey's Anatomy) and Jenji Kohan (Orange is the New Black).
According to reports, nearly 500 of those original shows and movies will be released on Netflix between Mid-May through the end of 2018, which is an average of about 60 original shows and movies per month.
"The creators we're talking to, they watch Netflix and they want to be on our network", Ted said, Via NY Post. Netflix also sees an opportunity to create more unscripted programming which at present makes up 7 percent of its portfolio, compared to 40 percent of viewing on USA television. Netflix plans to produce 80 original films in 2018, ranging from "sub-indie" low-budget pictures to "USD 100 million blockbusters", Sarandos added. Sarandos said the company has no current plans to go into live TV programming.
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