JP Mangalindan Yahoo Finance Netflix (NFLX) is spending up to $2 billion on original content this year in its ongoing mission to become the go-to platform for streamed video. The Los Gatos, California-based streaming giant plans on spending roughly 25 percent of $8 billion — the equivalent of $2 billion — on original content in 2018, according to Chief Content Officer Ted Sarandos. While Sarandos initially disclosed the amount at MoffettNathanson’s Media & Communications Summit 2018 in New York in May, the figure has not been widely reported. Netflix’s closest competitors, including Amazon (AMZN) and Hulu, declined to specify how much they’re spending this year on programming. However, MoffettNathanson, an independent research firm, estimates Amazon will spend $4.5 billion on licensed and original content this year, while Hulu will spend $2.5 billion overall on programming. (Hulu does not operate outside the U.S.) Apple (AAPL), which hired two Sony Television execs in December to lead its original content efforts, could reportedly spend $1 billion this year on original content. That’s a fraction of what Netflix is poised to spend but unsurprising given Apple just began ramping up its efforts last year, with original shows like the reality show “Planet of the Apps.” Indeed,… Read full this story
- HBO Max: Release Date, Pricing, And More Original Content Revealed
- From Top Gear to The Grand Tour: How we got here
- Origin's great shift: How New South Wales ended Queensland's dynasty to start an empire of their own
- How NSW ended Queensland's Origin dynasty to start an empire of their own
- How NSW ended QLD's Origin dynasty to start their own empire
- Netflix shares take hit as subscriber slip hints at 'lumpy' road ahead
- 15 scariest movies on Netflix
- Geralt Is In A Bathtub In Netflix's Witcher Trailer
- Confused About the Pats' Offseason Drama? Let's Binge-Watch How They Got Here
- Is DC Universe worth the price for the launch content?
Here's How Much Netflix Is Spending To Beef Up Its Original Content Catalog have 301 words, post on www.huffingtonpost.com at June 4, 2018. This is cached page on Trend . If you want remove this page, please contact us.