By Mahita Gajanan
October 17, 2017

Netflix plans to spend $8 billion on programming in 2018, marking about a third more in spending from 2017, according to a new report from Bloomberg.

The company will put the money toward a slew of new original movies, ramping up audiences worldwide, teen dramas, acquiring intellectual property and merchandise, Netflix officials said Monday.

Netflix will release about 80 original movies next year, outstripping Hollywood’s three largest movie studios — Disney, Warner Bros. and Universal Pictures — combined, said Chief Content Officer Ted Sarandos. The original movies will mostly comprise of low-budget films with a few departures into higher-budget fare, like the Will Smith vehicle Bright, Bloomberg reports.

In an effort to attract customers from Europe, Africa and Asia, Netflix will also produce a growing number of shows for foreign viewers, including a number of anime projects and Scandinavian thriller shows. The company is also looking into acquiring publishers, producers and new writers before they are poached by rivals.


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