So yeah, that could mean less classic movies and TV shows, BUT let’s not forget Netflix’s solid track record when it comes to producing original movies and television.
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For Netflix, original programming offers a much simpler licensing scenario, as the initial investment reflects a cost that can deliver continued value in the long run. In fact, according to the man in charge, expect half of all content on Netflix to be original content in the near future, which could ultimately wind up changing a lot more than just your binge-watching habits. “We can also live with singles, doubles and triples especially commensurate with their cost”.
Netflix has grown their reach considerably with their offering of original content, including shows like House of Cards, Stranger Things, Daredevil, Jessica Jones, and films like Ridiculous Six and Beasts of No Nation.
Discussing the global success of Narcos, a Columbian-set Netflix original about drug lord Pablo Escobar, which is primarily in Spanish language, Wells said: “I think what we are learning primarily is that people really will go out of their way to consume great stories”. This will consist of content that is owned and produced by the company as well as other acquisitions.
“There’s tons of demand for western content”, the CFO says.
According to Wells, the goal for Netflix was to release something that appeals to each individual subscriber. Pay-TV operators have recognized that “it’s better to have the Netflix app on their box, their device, than lose customers to another ecosystem”, Wells said.
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Funding is required to produce that original content, and Netflix has “no immediate plans” to introduce any advertising to its service. Now Netflix has an increasing library of original programming that is doing well commercially and critically, including some recent Emmy wins. He said that the brand as a whole still “stands for no advertising”, which will surely be a relief for those who were anxious that Netflix might one day succumb to the advertising bug.
