Netflix plans for half its catalogue to be original programming in next few yearsBy Robin-Leigh Chetty 21 September 2016 | Categories: news
Netflix truly started its rise to prominence with Orange is the New Black and House of Cards in 2013, then expanding to unexpected hits like Daredevil and more recently encompassed runaway hit Stranger Things. All these shows are Netflix originals, and the once exclusively streaming now content creating company has its eyes set on more.
In a recent interview with Variety, Netflix CFO David Wells explained that the company wants to fill its entire library with at least 50% original content over the next few years. By the end of 2016, Netflix will have an estimated 600 hours of original programming, according to Engadget. That's an increase of 150 hours from the same time last year.
At the moment, Netflix has achieved roughly one third of its 50% goal, but that number should certainly grow in coming years. Part of Netflix's success, in our opinion, is choosing passionate creators for projects. Take for example Stranger Things, a show that was wildly popular this year, but one where the creators, the Duffer Brothers, struggled to get greenlit by other studios in America.
The success of such original shows, is likely the driving force behind the increase in subscriptions for the Netflix's service, despite a raise in prices recently. Wells noted to Variety that between 33% and 50% of ex-subscribers resubscribed following the price increase.
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