Netflix doesn't regret investing billions of dollars into new content, according to company CFO David Wells.
As per The Hollywood Reporter, Wells told Wall Street on Tuesday the roughly $6 billion Netflix will spend this year on content, along with the $4.8 billion it has racked up in debt already, is well worth the cost.
Wells believes the money spent on new and original content—shows like Stranger Things and House of Cards—has helped Netflix get to an estimated 104 million subscribers worldwide.
However, Wells also noted that Netflix may soon be more constrained in its budget. "We might be to the point where we might start seeing more budget constraint," he said. "That has some benefits in terms of helping drive discipline on the content line."
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As per The Hollywood Reporter, Wells told Wall Street on Tuesday the roughly $6 billion Netflix will spend this year on content, along with the $4.8 billion it has racked up in debt already, is well worth the cost.
Wells believes the money spent on new and original content—shows like Stranger Things and House of Cards—has helped Netflix get to an estimated 104 million subscribers worldwide.
However, Wells also noted that Netflix may soon be more constrained in its budget. "We might be to the point where we might start seeing more budget constraint," he said. "That has some benefits in terms of helping drive discipline on the content line."
Continue reading…
Continue reading...