Netflix has revealed that it will spend $ 17 billion on content in 2021, similar to its 2020 spend.
The streamer recorded the figure in the first quarter financial results.
“Although the roll-out of vaccines around the world is very uneven, we are back up and running and producing safely in every major market, with the exception of Brazil and India. Assuming this continues, we will spend more than $ 17 billion on content this year and will continue to deliver an amazing array of titles for our members this year with more originals than last year, ”it noted in its shareholder letter.
In 2019, the company spent just over $ 15 billion and was estimated to be around $ 17 billion in 2020, with analysts including Dan Salmon of BMO Capital Markets estimating it could spend up to $ 26 billion by 2026.
This is because the service revealed ratings for a slew of originals.
Netflix is also starting to face competition on content budgets with the likes of Disney + looking to spend about $ 8 billion a year in the coming years and new challenges from the likes of Apple TV + and Amazon.