Magazine article Screen International

Netflix Aiming to Release 80 Original Films in 2018

Magazine article Screen International

Netflix Aiming to Release 80 Original Films in 2018

Article excerpt

Stock price exceeded $200 for first time on Friday.

Netflix CEO Reed Hastings

Streaming titan Netflix said on Monday that the budget for content in 2018 could fall in the $7-8bn range, higher than previously thought.

While it remained unclear how much of the 2018 allocation will go to original content versus licensing, the announcement was not surprising given the recent subscription price hike.

In an interview with investors, chief content officer Ted Sarandos said the streaming platform was aiming to release approximately 80 original films in 2018.

“They range anywhere from the million-dollar Sundance hit, all the way up to something on a much larger scale,” like Will Smith-starrer Bright,” Sarandos said. Bright is scheduled to debut worldwide on December 22.

Discussing third quarter results, the company said it beat expectations and added 5.3million members worldwide in the third quarter - 850,000 members in the US for 52.77m and 4.45m internationally for 56. …

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