Netflix to have 700 Originals in 2018

The streaming service is set to ramp up its Original content.

Netflix has said that it aims to have an Original library of over 700 by the end of 2018.

CFO of the company David Wells said in an interview that the streaming giant is looking to spend a massive $8 billion on Original content this year alone, meaning that there will be around 700 original TV shows, films and specials on the platform.

Wells was open about Netflix's content strategy, claiming that there was “no religion” about the source of programming.

People don't care where the stories come from,” he said. “We're about having the best content. We don't necessarily have to do it ourselves.”

Netflix has a mixture of programming that it has funded itself and programming it has purchased from outside sources - both of which are marketed as ‘Netflix Originals'.

2017 saw the platform ramp up its Original film content, with big budget films such as Bright hitting the service exclusively.

Netflix has recently bought a number of films from studios which were wary about putting them in cinemas, such as The Cloverfield Paradox and the upcoming Annihilation

The service currently has over 117 million customers worldwide, with Wells targeting the 700 million broadband users that are potential users of Netflix.

The service is set to expand in 2018, with a new five-year deal with producer Ryan Murphy (behind American Crime Story and American Horror Story) to produce content.

Source: Variety

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