Netflix promises $6 billion worth of content in 2017
The streaming giant has seen 3.2 million overseas users join in the last three months
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Your support makes all the difference.Netflix's ever-expanding empire shows no signs of slowing when it comes to its plans for 2017.
With the streaming giant now working towards its ambitions of making half its content original programming, Buzzfeed now reports the company has announced a planned $6 billion budget to spend on content; totalling up to 1,000 hours for viewers to delve into in the next year. That's a pretty lengthy binge, right there.
The company has seen 370,000 new users in the US and 3.2 million overseas in the last three months; its US growth being slower than in previous years, having added 880,000 in the same period during 2014, but outperforming on the international side. Overall, Netflix turned a rather slight $52 million profit in the last quarter, based on $2.3 billion in revenue.
The rise in content budget will hopefully reassure its users, with some 75% of Netflix customers having now seen their subscription rise in price at an average of 10%. "With more revenue, we can reinvest to further improve Netflix to attract new members from around the world, while continuing to delight our existing customers," founder Reed Hastings said in a letter to investors.
Netflix's ambitions for the coming year has also seen it aim its horizons at the awards circuit; announcing a deal to start showing its exclusive films in cinemas on the same day as their release online. The deal so far is to release 10 of its original films through iPic cinemas, a premium chain which operates in both New York and Los Angeles; with Christopher Guest's Mascots and the Jamie Dornan-starring Siege of Jadotville first on the list.
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