$17.3 billion! Netflix spends a lot of money on original content this year

According to Variety magazine, Netflix plans to invest US$17.3 billion (about RMB 118.9 billion) in the production of film and television content this year, which is almost twice the total box office revenue of Chinese films last year. It is reported that Netflix will use most of the investment to develop original films and TV series.

As film and television giants with their own film libraries, such as Disney and Warner, join the streaming war, Netflix is ​​under increasing pressure to develop its own content. In 2019, Netflix's investment in film and television content reached $15.3 billion. According to the forecast of Wall Street investment companies, Netflix may increase its investment in film and television content to $26 billion in 2028.

In the past year, Netflix has produced more than 1,500 hours of new original film and television content. After "Roma" swept the Oscars last year, it launched "The Irishman" and "Marriage Story" and other masterpieces of this year's award season. There has been a significant improvement in both quantity and quality.