Netflix has spent a lot of money. Now, they are looking for their returns. While many already felt that Netflix revealed new content at a quickened pace in the past, that churn-out rate is about to double. They are sitting on a lot of content and are ready to distribute it.
David Wells, the CFO of Netflix, held an investor conference with Morgan Stanley.
During this meeting, the CFO brought up the fact that the company has just spent $8 billion on content. This covers the 80 non-English content that the company created for their foreign markets alone.
While over 80 is an impressive number, that doesn’t taken into account the English language content, to which Wells commented,
“There’s even more than 80. If you think about the total number, it might be in the 700 range.”
Netflix believes they will add 1.45 million subscribers within the United States and 4.9 million worldwide in the first quarter of 2018 alone.