Netflix streaming service will invest more money in its own content this year than last year. The company will spend about 17 billion dollars (about 15.7 billion euros) on its own productions in 2020, more than 2 billion dollars more than in 2019. This is according to an analysis by Canadian investment bank BMO Capital Markets about which media like Variety talk about to write.
The extra investments in own work do not come as a surprise. Last year the streaming service achieved great success with a large number of own productions. For example, Netflix films such as The Irishman and Marriage Story won various prizes. Those films were also nominated for ten and six Oscars respectively.
Netflix makes the investment in a period in which the company is becoming increasingly competitive. For example, Disney launched its own Disney + streaming service in November, while tech company Apple and pay-TV channel HBO are increasingly deploying on streaming platforms.
In order to be able to continue to make shows, Netflix has put itself in big debt in the past year. The company's long-term debt was $ 12.5 billion at the end of the third quarter. In the same period of 2018 that was just under 8.5 billion dollars, according to the latest quarterly figures from the company.
Netflix now has 158 million paying customers worldwide, of whom around 3.2 million in the Netherlands.