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A running joke throughout the latest season of South Parksaw a Netflix representatives continually answering the phone to a call from a bunch of 4th graders with, “Netflix, hello, you’re greenlit. Who am I speaking with?”
Well, it turns out the joke was more true to life than anyone could have ever imagined.
According to Variety, at the Morgan Stanley Technology, Media & Telecom Conference on Feb 27, CFO David Wells stated that the streaming mogul will spend around $8 billion on original content this year, which totals to about 700 original shows.
While this is an astounding number, it isn’t deviating from Netflix’s established business model of using original content to drive subscriptions. “Let’s continue to add content — it’s working, it’s driving growth,” Wells said.
The question of quality, however, does not appear to be a focus. But Wells did mention how they would be using a good portion of these funds for international Netflix programs, like their German hit Dark. They currently plan on including 80 foreign shows and films this year.
But Wells did further explain one shift in the company’s strategy. Last month, Netflix revealed to investors that it would increase their spending on marketing from $1.3 in 2017 to $2 billion in 2018.
“We used to think every incremental dollar was best spent on content,” he said. “We think marketing is a multiplier on the content spend.”
That all makes sense — even if we already feel winded from just the idea of sifting through several hundreds more shows before finally finding a decent one to binge.