Just a short time after Netflix announced a price hike for their two higher-end streaming plans, the company has shared further financial information which might help justify the increased cost. With more than 5M subscribers in the U.S. and more than 115M worldwide, the company is planning to spend a fortune on content acquisition and development for 2018.
A recent earnings call shows that Netflix will spend $7-8 billion on content during 2018, significantly more than their Chief Content Officer, Ted Sarandos predicted back in August. If this ends up being accurate, next year's content budget will be 33% higher than they spent on content for 2017 ($6B).
Beyond the staggering figures concerning subscriber numbers and content budgets, executives from Netflix have also shared they are actively trying to work with airlines to make video streaming on their service easier for their customers to access during a flight.
Just under a year ago, Netflix added a ‘download' option to their mobile apps for offline viewing for select content, but native streaming in the air would make traveling a lot more enjoyable.
As a graduate of the University of Massachusetts and our Managing Editor, Colt loves testing out the newest tech products/services. His goal is to help better educate other consumers to ensure the most satisfying purchases decisions on consumer electronics and services. When he is not working on creating new content, Colt enjoys spending time with his two Australian Shepherds, Mia and Zoey.