Netflix is ramping up its content spending to around $18 billion this year, with no signs of slowing down.
Chief Financial Officer Spencer Neumann stated at the Morgan Stanley Tech, Media, and Telecom Conference that the company is “not anywhere near a ceiling” when it comes to content investments. “We are still just getting started,” Neumann said, as reported by Variety.
The increase in spending—from $16.2 billion last year—comes as Netflix expands its lineup of live programming. This includes WWE’s Monday Night Raw, John Mulaney’s upcoming late-night talk show, and a high-profile live boxing match between Katie Taylor and Amanda Serrano this summer.
Netflix’s aggressive investment in content aligns with its strategy to stay in “growth mode” for as long as possible. Neumann emphasized that the company aims to provide “more and more entertainment value per dollar” to its subscribers.
This year, Netflix also raised its subscription prices, but its subscriber base continues to grow, reaching 300 million. Despite its success, Netflix still faces competition from YouTube, which has led Nielsen’s rankings for the most-watched streaming services over the past two years. Neumann noted that Netflix is looking to expand into areas of the streaming market that are still untapped, including traditional TV audiences.
With its rising investment in content and commitment to growth, Netflix is positioning itself to remain the dominant force in the streaming industry.
