March 7, 2018
Subscription streaming video pioneer Netflix reportedly expects to generate $15 billion in user fees in 2018 – almost twice the $8 billion it will spend on original content.
That from co-founder Reed Hastings, who was in Los Angeles at a corporate tech event, as reported by Nikkei Asian Review.
Of course, with 117 million subscribers globally – and growing daily – revenue growth is the ongoing driver behind the Netflix’s original content ambitions – and admiration on Wall Street.
Befitting Hasting’s singular vision, he brushed off a question about whether Disney’s pending acquisition of 20th Century Fox posed a threat, saying the only threat facing Netflix is complacency.
“The threat is, probably, that we just slack off,” he said.
The dotcom billionaire reiterated Netflix has no desire to pursue live sports – unlike rival Amazon Prime Video – focusing instead original episodic programing and feature films.
Indeed, Netflix announced its first original (and language) programs for SVOD services in Turkey and Poland – the former beginning principal photography March 7.
The 10-episode super hero fantasy follows Hakan, a young shopkeeper whose modern world gets turned upside down when he learns he’s connected to a secret, ancient order, tasked with protecting Istanbul.
Separately, original Polish political drama, “1983,” features Robert Więckiewicz and Maciej Musiał as a disgraced police investigator and an idealistic law student who stumble upon a conspiracy that changed the course of the nation and kept the communist Iron Curtain standing.
The series is directed by 1992 Oscar-nominee Agnieszka Holland (Europa Europa).
Hastings said Netflix would continue to create its own business opportunities going forward, rather than mimic trends.
“To follow a competitor? Never, never, never!” he said.