The online streaming giant has been a big player across the globe but it has been facing stiff competition from other online streaming from the past few months. On this note, Netflix is now going to invest $20 Billion just for programming this year to deliver the best content for its consumers. This report comes from DataDads and this is 5 folds more than what Netflix spent five years ago on content.
This also includes original programming and costly licensing deals also. The competition for Netflix comes from Amazon, Hulu, Apple and Disney and there are also many more streaming services like Peacock and HBO max which are planning to launch soon. There are many other local streaming services depending on the country you are from.
The data comes from Netflix’s recent earnings report where it has been indicated that it has the plans to spend around $20 Billion content for 2020. Furthermore, Netflix spent $12 Billion on programming in 2018 and $4.5 Billion on programming in 2015. The licensing deals are also becoming more costly year by year because of the increase in the competition.
The subscriber for Netflix has crossed 167 Million and it is been used all around the globe. It is mentioned that bidding wars for content are becoming more normal in television since the producers have more places than ever to pitch their content. Netflix has also been working on bringing different plans for mobiles as well and we might also see a few changes in the current plans also. Comment in the section below if you have more queries on the same and stay tuned to PhoneRadar for more.