According to Netflix’s first quarter earnings report, Netflix will spend more than $ 17 billion on content this year.
“As previously noted, Covid-19’s production delays in 2020 will lead to a 2021 slate that weighs the second half heavier with a large number of recurring franchises,” the company said in its letter to shareholders. ‘And although the introduction of vaccines around the world is very unequal, we produce safety in every major market, with the exception of Brazil and India. Assuming this continues, we will be spending more than $ 17 billion in cash on content this year and we will continue to deliver an amazing range of titles for our members with more than this year. “
This is a significant increase in streamer spending in 2020 of $ 11.8 billion as the pandemic caused production delays in the industry, and a spending on content in 2019 of $ 13.9 billion.
During the first quarter, Netflix’s most watched shows included the first season of ‘Firefly Lane’, with 49 million households serving during the first 28 days of the series, Season 3 of ‘Cobra Kai’ (45 million), ‘ Fate: The Winx Saga ”(57 million) and“ Ginny & Georgia ”(52 million), according to the company.
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On the movie side, Netflix members move to ‘Outside the Wire’ (66 million), ‘Yes Day’ (62 million), ‘I Care a Lot’ (56 million) and the last movie in ‘To All the Boys’ I Have previously loved ”trilogy (51 million).
While the streamer was investing in local language original productions, he remarked that “Who killed Sara?” from Mexico attracted an estimated 55 million viewers on the service in the first four weeks, making it Netflix’s most popular non-English title ever in the US during that period. Spain’s “Below Zero” brought in 47 million households and Korean “Space Sweepers” attracted 26 million viewers.
Netflix also starred in its popular French heist series “Lupine”, starring Omar Sy, which attracted 76 million member households on the platform in its first 28 days – its most popular new title this quarter.
Earlier this month, Netflix unveiled Variety exclusively that the Oscar-nominated series, including a love song for Latasha, ‘Da 5 Blood’, ‘Pieces of a Woman’ and ‘Man’, each received a significant increase in viewership after the nominees were announced.
Although the streamer defeated Wall Street’s earnings and earnings projections, it missed its own Q1 subscriber targets, with profits of nearly 4 million paying households during the period, well below the 6 million increase guideline, which the stock made about 11% lower-hours trading Tuesday.