Netflix Aims to Double Its Original Content in 2017
01:11, Dec 8, 2016
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Chief Content Officer Ted Sarandos has announced that, between unscripted reality shows and original movies, it will produce enough content to average nearly one new property a week.
Netflix now has 30 original scripted series in development or release, and is planning to get into unscripted shows. Though it may seem like there is already a new Netflix original series every week, the online streaming giant is looking to double its original content output in 2017. Amid increased competition from new streaming services, Netflix believes that its investment in its own programming will help differentiate its service from rivals, while also simplifying the licensing situation.
He did not however reveal the titles of the promised new reality TV shows for next year.
Media strategist Liam Boluk told Fast Company a year ago that if people studied the numbers, they'd see the rapid increase in Netflix subscribers and the amount of time they spend streaming content should be a major concern, even to giants like HBO. The company has plans to spend roughly $6 billion on originals next year, which according to Sarandos would lead to 1000 hours of more original shows.
"Unscripted television is a very interesting business", Sarandos told investors at the UBS Global Media and Communications Conference in NY. "No matter what, we end up with about a third of our watching is with movies", he said, explaining that that 1/3 ratio plays out in countries where Netflix offers a wide range of movies, like Canada, as well as in countries where it doesn't, like in the United States.
Sarandos called supernatural thriller "Stranger Things" a milestone for the company, because it was the first original series developed in-house and produced by Netflix.
Keep reading to see which movies viewers were most likely to watch after binging a series. Investors shouldn't expect to see any detailed subscriber numbers from Netflix just yet, though, as Sarandos said the company isn't planning to release in-depth viewership statistics "at this point".
There are two major reasons why Netflix is interested in unscripted content. "League creation might be interesting", he said.
Sarandos also handily deflected any talk of Netflix being bought by a larger company when asked if it could ever "become a bigger company".
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