Netflix is spending billions on original content

Netflix’s earnings announcement revealed that its original shows, from Daredevil to Orange is the New Black, are big business. The video streaming company posted higher-than-expected earnings and revenue in line with estimates as it continues to pump billions of dollars into original shows, movies and documentaries and spread its service across the world. “We anticipate that as our global content spend approaches $5 billion in 2016… we will devote more investment to originals both in absolute dollars and percentage terms. This includes not only series, documentaries and stand-up but also original feature films,” Netflix told investors in its quarterly earnings call. Netflix recorded growing revenue of $1.64 billion, compared to $1.57 billion three months ago. It also added 3.3 million new streaming members, compared to 1.7 million in the same time in the previous year. The company has 42 million members in the US and 23 million internationally.