Netflix News 2018: To Have 700 Original Shows and Films by End of the Year
The streaming juggernaut Netflix has recently announced that it would have an estimated 700 original series and films in its library by the end of the year.
Netflix financial officer David Wells announced during the Morgan Stanley Technology, Media & Telecom Conference, which is scheduled for Feb. 26 to March 1, that the streaming site will be delivering vast original content this year. The news is in line with the original plan of the streaming site to have an even split of content between licensed and original Netflix content.
This is probably the reason why multiple shows are in the works as of now, such as "Sabrina" and "The Witcher," along with many other programs that are scheduled to be released this year.
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The rapid stream of projects has led to Netflix spending an estimated $8 billion to produce them, which is a big move on their part. The streaming giant's goal is to acquire more subscribers with a larger library of content — which so far has proven to be effective.
According to reports, Wells stated that he and the heads of Netflix do recognize that their ambition to add a lot of content is "risky," following the news that the streaming site has agreed to sign screenwriter Ryan Murphy to the tune of $300 million. Murphy was responsible for writing hit shows such as "American Horror Story," "Glee," and "Nip Tuck."
In addition to that, Wells also hinted at an increase of global productions. These global productions would tremendously help bring the number up to 700. A successful example of which is the series "Dark," which is a German series, and the first non-American Netflix release that received rave reviews from audiences and critics alike. March is a big month for Netflix since it will be debuting 54 original films and series.
Netflix has been deemed successful with its marketing thus far, especially with its "Cloverfield Paradox" Super Bowl commercial that took audiences by surprise.
