Are a lot of your favorite shows and movies on Netflix? If the answer is yes, then you’re probably in for a good year when it comes to entertainment, as the streaming service has big plans for 2018, with about 700 original TV shows, movies, and specials scheduled to debut this year, according to Variety.
The company is planning to spend north of $8 billion on content this year across its original content and licensed shows and movies, chief financial officer David Wells said on Tuesday, February 27 at the Morgan Stanley Technology, Media & Telecom Conference. This seems to be just a general guideline, as Wells said “there’s no magic line where you know exactly where you are” when it comes to spending on content. That figure doesn’t seem to include a marketing budget, but Netflix plans to increase its spending on marketing by at least 50 percent this year.
The increased focus on marketing could be seen as a warning sign that Netflix isn’t as focused on creating the best content it can, but Wells has another take on the matter. “We used to think every incremental dollar was best spent on content,” he said. Now Netflix thinks “marketing is a multiplier on the content spend.”
While we already know some of the shows or movies that will make up those 700 productions, with returning series like Stranger Things for example, a lot of what this content remains a mystery. Wells did say that productions will include 80 from countries outside of the United States, including the German psychological thriller Dark, so expect to see even more diverse content than we’ve seen from Netflix before.
Earlier this month, Netflix made a five-year exclusive deal with Ryan Murphy, creator of American Horror Story, Glee, and 9-1-1, that will see him moving from Fox to Netflix, but we shouldn’t necessarily expect to see many more deals of this magnitude. “We aren’t doing 10 of them, we aren’t doing 20 of them,” Wells said.
In the meantime, there are plenty of great movies and TV shows on Netflix to keep you bingeing while you wait for new shows and movies. If you’re looking for an even better viewing experience, make sure to check out our collection of Netflix tips.
Update: Edited to clarify that Netflix’s plans to spend $8 billion includes both original series and content licensed from other companies