Netflix to spend $17 billion on new content in 2020

It will come as no shock that streaming giant Netflix will invest more money than ever into new content this year, but it might surprise you to learn exactly how much they’re willing to shell out now that they face more fierce competition from a host of other streaming services like Disney+ and Apple TV+.

According to Variety, Netflix is planning to up its game Netflix with a $17 billion budget for new original shows, movies and new seasons of their existing properties this year. This figure comes from a Wall Street firm’s forecast. Last year, the service spent $15.3 billion, so expenditures are on the rise. The analysts at BMO Capital Markets think Netflix’s investments will continue to grow year-on-year to a projected $28 billion by 2028.

Needless to say, these numbers are exceptionally high, but when compared with the measly $3.2 billion Netflix spent on content back in in 2014, it shows just how far they have come. Elsewhere in 2019, Comcast spent $15.4 billion on original content and Disney a whopping $27.8 billion, so you see why Netflix might feel it needs to step things up. Disney’s spending resulted in a huge debut for Disney+, and the company struck gold in The Mandalorian, which became an instant hit. Having Baby Yoda in your corner, going viral all over the place, helps.

The streaming wars appear to be bigger and more competitive than ever, but BMO’s Dan Salmon doesn’t like to see it that way. “We continue to believe the ‘streaming wars’ narrative is false and there will be multiple winners in global streaming,” he said.

Last year, Netflix saw huge success with the third season of Stranger Things season 4, a show that’s now a cornerstone for the service. Netflix also gave us The Witcher, which was so successful it inspired a reprint of the books on which it’s based. So investments are paying off for everyone.

With a whole lot of new shows and movies on the horizon and incredible amounts of money being thrown around, I’m not ending my subscription anytime soon. Keep it coming, Netflix!

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