Netflix is expecting to spend a ton of money in 2021.
According to Variety, Netflix released a letter to shareholders about the year ahead, and the amount of money expected to be spent on content is huge. (REVIEW: ‘Westworld’ Season 3 Ends With The Possible Deaths Of Multiple Characters)
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The letter read in part:
As we’ve noted previously, the production delays from Covid-19 in 2020 will lead to a 2021 slate that is more heavily second half weighted with a large number of returning franchises. And while the roll out of vaccines is very uneven across the world, we are back up and producing safely in every major market, with the exception of Brazil and India. Assuming this continues, we’ll spend over $17 billion in cash on content this year and we’ll continue to deliver an amazing range of titles for our members with more originals this year than last.
Folks, that’s a ton of cash to spend on new and upcoming projects. It’s a staggering amount of money, and it goes to prove that Netflix means business.
I know it’s a running joke that Netflix green lights everything, and dropping $17 billion won’t change that perception.
Obviously, the $17 billion will be spread around to much more than just those, but I like the fact that Netflix isn’t holding back.
What do I always say about the streaming wars? Competition forces everyone to be better. If Netflix is almost matching the amount of money Israel is spending on defense, then I expect awesome results.
I can’t wait to see what we get over the course of 2021! My expectations are incredibly high.