Netflix is the streaming service of choice for many people. While it may be missing out on exclusive content from Hulu or Amazon Prime, it has managed to become ingrained in a culture of staying in and enjoying your favorite films and shows; just look at "Netflix and chill." However, rather than moving off into other avenues to expand their reach, Netflix sticks to their guns. It's been recently reported that Netflix spends the most money on content than any other streaming provider.
Previously, Netflix could be seen as a content aggregator, acquiring properties to then stream. Since they moved in to content creation themselves, their Netflix Originals – like Stranger Things and Narcos – have been highly successful. Considering this, Netflix is putting content first. In 2017, They allocated nearly $7 billion on adding new movies and TV shows for us to consume. That's more than a lot of traditional TV networks. In comparison, huge networks are not far beyond Netflix; TimeWarner, Fox, and Disney all spend roughly $8 billion.
These numbers won't be that way for long. Netflix is increasing their budget to $8 billion this year, inching closer to their traditional television competitors. The company is already spending more on other notable companies like Viacom, Amazon, CBS, and Discovery.
[via recode]
