David Balev © Unsplash
He didn't make the trip for nothing. Ted Sarandos, co-CEO of Netflix, was present this Monday at the UBS Global Media and Communications Conference in New York. For the occasion, the manager confirmed that the streaming platform will devote $17 billion to its content in 2024. An amount which, according to him, is not exaggerated, and corresponds well to the growth of the company.< /p>
Thanks to this windfall, the service will notably offer sequels for its flagship series: Bridgerton, Cobra Kai, Emily in Paris. But Ted Sarandos also insisted on new types of programs that Netflix intends to focus on.
Netflix wants to spend more to earn more
This is the case with unscripted content. Behind this difficult term hide documentary series such as the one devoted to David Beckham which was a hit in the fall.
Another area of investment for the platform: animated films. Quoted by our colleagues from Variety, Ted Sarandos also pointed out that according to Nielsen, eight of the ten most watched films on the platform fall into this category. This is the case with Leo, the feature film by Adam Sandler which was a literal hit in November. Subscribers can therefore expect to see more animated films in the coming months.
Note also that Netflix intends to rely on its substantial budget to fill its catalog with popular film licenses. The company has notably entered into an agreement with Sony Pictures Entertainment which allows it to distribute Spider-Man: Across the Spider-Verse and other gems. Partnerships have also been established with Universal and Warner Bros for the feature films Super-Mario and Dune .
All of this is reason to be optimistic for the service, which also expects a net subscriber gain of more than 8 million for the fourth quarter of 2023 The company is profitable, but shareholders always want more. To convince them, the company unveiled a plan that will not necessarily be to the taste of its customers.
It therefore plans to inflate its revenues thanks to paid sharing which is already in force, to the growth of advertising, and with price increases, one of which was recently announced, to the great dismay of subscribers .
Finally, let us recall that these figures are consistent with the forecasts of the company BMO Capital Markets which already estimated that the platform would spend 17.3 billion dollars on its content in 2020. In 2028, analysts even anticipated the astronomical sum of 26 billion.
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