Netflix is aiming to fill half of its streaming catalog with original programming over the next few years, according to company CFO David Wells (via Variety).

The announcement marks a renewed push towards offering original TV shows and movies commissioned by Netflix over stocking licensed content. The streaming catalog is already one third of the way toward reaching the target, according Wells, who said the company was undergoing "a multiyear transition and evolution toward more of our own content".

netflix_ipad_pro
Netflix expects to launch 600 hours of programming in 2016, up from 450 hours in 2015, said content chief Ted Sarandos at the start of the year. The company has projected content spending on a profit/loss basis to rise from $5 billion in 2016 to more than $6 billion in 2017.

Wells said the original TV series and movies will continue to be a mix of content owned and produced by Netflix, as well as co-productions and acquisitions. The streaming market is seeing a decreasing cost of production and an increasing number of bidders, making it cheaper to take risks on new programming.

"You have supply and demand settling out," Wells continued. "We don't necessarily have to have home runs. We can also live with singles, doubles and triples especially commensurate with their cost."

The goal, he said, is to release something that appeals to each individual subscriber, every single month, and on that front "we’ve got a ways to go" across different genres and formats. "The nice thing about the platform is it allows a lot of creative freedom," Wells added, offering the production of episodes of varying lengths as an example.

Netflix is in the process of transitioning all U.S. subscribers to its standard $9.99 monthly plan, which it says will help generate revenue for investing in original content. However, the forced switch increases the price for some older subs by $2 per month and has led to higher cancellation rates than the company anticipated. Netflix reported a lower-than-expected 160,000 net U.S. streaming subs for the second quarter.

A follow-up season of Stranger Things, one of Netflix's most recent breakout hit shows, has already been confirmed. On August 31, the company renewed the series for a second season of nine episodes, to be released in 2017.

Tag: Netflix

Top Rated Comments

_Refurbished_ Avatar
61 months ago
While their shows are great, this has the potential for another company to swoop in and take customers away.

Many people aren't interested in their shows and are looking for a cheap way to watch content without a cable subscription. Their shows are the cherry on top, not the cake. If Netflix significantly cuts the rest of their content, I may drop them.
Score: 9 Votes (Like | Disagree)
Mac Fly (film) Avatar
61 months ago
I'm sure Cue is regretting not bidding on Netflix now. Their original content is wonderful. Expect good things.
Score: 4 Votes (Like | Disagree)
Return Zero Avatar
61 months ago
I don't like the shift in business. For Netflix, I'm sure it's good, and don't get me wrong, they pump out some good original content. That's not why I originally signed up for Netflix, though (back when it was DVDs in the mail). I want a streaming service that actually has all the new movie releases from all major studios. I'd consider paying $20/mo for it, because I watch a lot of movies.

I also hate this practice of studios now letting you buy a digital movie on release day, but having to wait 2+ weeks to rent it. This is so infuriating and backwards. Two weeks prior, your movie was in the cheap theater and I could go for $2 to see it on the big screen. Now my only legal option is to pay $20 to own the film, or wait a couple weeks and rent it for $6?
Score: 3 Votes (Like | Disagree)
Codeigniter Avatar
61 months ago
Erm... how about dropping those aggressive VPN blocks every other week. Argh
Score: 2 Votes (Like | Disagree)
RogerEast Avatar
61 months ago
Netflix seems to do well with a season or two of original shows. But is there an example of a series actually continuing to be good after season 2? Or even season 1 in some cases? Narcos is rubbish in season 2, House of cards went downhill at season 3, Orange is the New black was poor after season 1.
To each their own, but I thought OITNB peaked during Season 4, and I'd hardly call Narcos S2 'rubbish'.

And then there's BoJack Horseman, which has consistently improved, and Bloodline, which also had a strong second season. I could go on. But again, opinions are opinions. :)

Personally, I'm thrilled with this news. A few years ago I might've been on the fence, but Netflix Original is generally a mark of quality nowadays.
Score: 2 Votes (Like | Disagree)
Gasu E. Avatar
61 months ago
There are LOTS of movies that only have Danish subtitles, and no others. English movies, mind you. Even if they have English subs in other Netflix regions.
I'm confused. You want English subtitles for English-language shows? In the USA I watch ALL shows with Closed Captioning enabled to get around the "mumbling" problem. Doesn't that address your problem?
Score: 1 Votes (Like | Disagree)

Top Stories

apple music change forever

Apple Music Teaser: 'Get Ready – Music is About to Change Forever'

Sunday May 16, 2021 2:39 pm PDT by
The Browse tab in the Music app across Apple's platforms has started displaying a prominent teaser hinting at an upcoming major announcement for Apple Music. Under the heading "Coming soon," the headline says "Get ready – music is about to change forever." An accompanying "Tune-In Video" simply shows an animated Apple Music logo. Rumors have indicated that Apple is preparing to launch a...
m1 ipad pro early customer

M1 iPad Pro Arrives Early for Lucky Customer

Saturday May 15, 2021 11:57 pm PDT by
Days ahead of their expected launch and seemingly before official review embargoes lift, one lucky customer has already gotten their hands on the brand new 12.9-inch M1 iPad Pro. Reddit User PeterDragon50 Posted on Reddit, u/PeterDragon50 has already received their 12.9-inch iPad Pro through retailer Nebraska Furniture Mart. The Reddit user says they placed their order when pre-orders...
2021 mbp hdmi slot 3d

2021 MacBook Pro Leaks Confirm Returning MagSafe and Ports

Friday May 14, 2021 3:06 am PDT by
Apple's upcoming MacBook Pro models are expected to feature a number of major changes such as larger display options and powerful new Apple silicon chips. Among the more surprising updates to this year's MacBook Pro models is the return of three ports that have been missing from the machines for over five years. Expected to come in 14- and 16-inch sizes, the 2021 MacBook Pro models are...
Twitter Feature

Twitter's 'Blue' Subscription Service May Cost $2.99, Will Offer Undo Tweet Option

Saturday May 15, 2021 11:08 am PDT by
Twitter has been working on some kind of subscription service since last summer, and Jane Manchun Wong, who often digs into new features coming in apps, has shared details on just what Twitter is exploring. Twitter's subscription service could be called Twitter Blue, and at the current time, it's priced at $2.99 per month. There will be a "Collections" section that allows users to save and...
AirPods Lineup Not Lossless Feature

AirPods, AirPods Max and AirPods Pro Don't Support Apple Music Lossless Audio

Monday May 17, 2021 10:44 am PDT by
Apple today announced that starting in June, Apple Music songs will be available to stream in Lossless and Hi-Resolution Lossless formats, but lossless audio won't be supported on the AirPods, AirPods Max, or AirPods Pro. Apple's Lossless Audio is encoded as Apple Lossless Audio Codec files, with lossless quality ranging from 16-bit 44.1 kHz playback to 24-bit 48 kHz playback and Hi-Res...
Top Stories 60 Feature

Top Stories: M1 iMac Benchmarks, iPhone Battery Life Tips, Colorful MacBook Air?

Saturday May 15, 2021 6:00 am PDT by
Anticipation is building for the new iMac and iPad Pro models, which have started shipping out ahead of a launch around May 21. Benchmarks for the new machines are starting to come in, and the M1 chips inside of them are registering at around the same figures seen with other M1-based Macs, making for significant upgrades over previous-generation models. This week also saw some rumors about...
apple music spatial audio

Apple Music Launching Spatial Audio With Dolby Atmos and Lossless Audio in June at No Extra Cost

Monday May 17, 2021 6:06 am PDT by
Apple today announced that Apple Music will be gaining support for Spatial Audio with Dolby Atmos at no additional cost starting in June. At launch, Apple Music subscribers will have access to thousands of songs in Spatial Audio from artists like J Balvin, Gustavo Dudamel, Ariana Grande, Maroon 5, Kacey Musgraves, The Weeknd, and many others. Apple says this feature will provide a...
General Music and AirPod 3 Feature

Rumor: Apple to Announce Third-Generation AirPods and HiFi Apple Music Tier on May 18

Thursday May 13, 2021 10:32 pm PDT by
A new rumor suggests that Apple will announce the third-generation AirPods and the recently rumored HiFi, or high-fidelity Apple Music tier, on Tuesday, May 18, via a press release on its website. The new rumor comes from Apple YouTuber Luke Miani who shared the alleged exclusive news with the AppleTrack website. According to the YouTuber, Apple plans to release the next-generation AirPods...
apple music logo

Apple Music Teaser References 'Hi-Res Lossless' and 'Dolby Atmos'

Sunday May 16, 2021 4:04 pm PDT by
Earlier today, Apple Music began teasing a special announcement with the tagline "Get Ready – Music is About to Change Forever." This teaser comes amid a rumor that Apple is preparing to announce the third-generation AirPods alongside a HiFi, or lossless audio streaming tier for Apple Music on Tuesday, May 18. Now, references to "Apple Lossless," "Free Lossless," "Hi-Res Lossless," and...
tile amazon sidewalk integration

Apple Says Tile Trackers Sold Poorly in Apple Stores

Friday May 14, 2021 4:53 am PDT by
Earlier last month, Spotify, Tile, and Match (owner of Tinder), testified at an app store antitrust hearing spearheaded by the U.S. Senate. During the hearing, Spotify called Apple's App Store "an abusive power grab," while Tile said Apple uses its platform to "unfairly limit competition for its products." Now, in response to their testimonies, Apple's vice president and chief compliance...