Netflix has revealed it will spend more than $ 17 billion on content this year, according to its first-quarter earnings report.
“As mentioned earlier, production delays at Covid-19 in 2020 will lead to a 2021 list that is stronger in the second half weighted with a large number of franchises returning,” the company said in a letter to shareholders. “And although the launch of vaccines is very uneven around the world, we are back and producing safely in all major markets except Brazil and India. Assuming this continues, we will spend over $ 17 billion in cash on content this year and will continue to offer an amazing range of titles to our members with more originals this year than last year. ”
This is a remarkable increase in streamer spending by $ 11.8 billion in 2020, as the pandemic has led to delays in production across the industry and a spending on content in 2019 of $ 13.9 billion.
In the first quarter, Netflix’s most-watched shows included the first season of “Firefly Lane,” with 49 million households granted during the first 28 days of the series, in season 3 of “Cobra Kai” (45 million). , “Destiny: The Winx Saga” (57 million) and “Ginny & Georgia” (52 million), according to the company.
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As for the film, Netflix members gravitated to “Outside the Wire” (66 million), “Yes Day” (62 million), “I Care a Lot” (56 million) and the latest movie in “To All the Boys “I Loved Before” trilogy (51 million).
As the streamer invested in original local productions, he noticed that “Who killed Sara?” Mexico attracted about 55 million viewers in its first four weeks in service, making it the most popular non-English Netflix title ever in the United States in that span of time. Spain’s “Below Zero” brought in 47 million households, and Korea’s “Space Sweepers” attracted 26 million households.
Netflix also highlighted its popular French series “Lupine” with Omar Sy, which attracted 76 million member households in the first 28 days of the platform – the most popular new title this quarter.
Earlier this month, Netflix revealed to variety except that his Oscar-nominated series, including “A Love Song for Latasha,” “Yes 5 Bloods,” “Women’s Pieces” and “Mank,” each received a significant increase in viewers after the announcement of the nominees.
Although the streamer exceeded Wall Street revenue and revenue projections, it missed its own Q1 subscriber targets, with a gain of nearly 4 million paying households in that period, significantly below guidance for a 6 million increase, reducing the stock down about 11% after -Trading hours on Tuesday.