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They plan to spend $8 billion on original content over the next year.
Netflix look set to significantly increase their original movie content output in 2018.
According to Deadline the entertainment company are aiming to release 80 original films next year, which equates to a new movie being released at an average of every four and a half days.
They plan to spend $8 billion on original content over the next year.
Netflix released eight original films in the last quarter (ending September 30) and gained 5.3 million new customers during that time, as revealed by the company’s content chief Ted Sarandos in a video conference on Monday (October 16).
This comes after it was revealed that Riz Ahmed is in talks to play the lead in an upcoming contemporary adaptation of ‘Hamlet’ that the actor co-created with Netflix.
Back in August, it was reported that Netflix was swimming in $20.54 billion of debt, after investing a huge amount on original content.
However, the company released a statement saying that their $15.7 billion of streaming obligations doesn’t count as debt, as it’s “future content expenses that roll through the income statement over time”.
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