Netflix shares open lower amid streaming giant's originals release plans

Netflix shares open lower amid streaming giant's originals release plans

Netflix shares open lower amid streaming giant's originals release plans

In another startling disclosure, the streaming giant also announced that by the the end of this year, there will be 1000 original shows and films for viewers to choose from.

Netflix has brought some pretty spectacular original shows into our lives, and from the looks of their new spending, they're only going to create more awesome original content. The stock ended a little higher Tuesday.

If you've only watched a few of the latter, then you're about to have a lot more to add to your "must watch" list since Netflix's Chief Content Officer, Ted Sarandos, said the platform will have 1,000 originals streaming by the end of the year. In total, the company expects to spend $8 billion this year, though he wouldn't specify the exact amount for originals versus licensed content.

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And with all the spending it's doing on original content, in particular, Netflix may soon get a chance to see how many subscribers stay on if it does raise those subscription prices again.

The decision to ramp up its original films production is no secret and has been oft mentioned by the Netflix management.

Differentiating its local original content from that of local broadcasters will help Netflix succeed in what he termed "a television starved market", speaking at the MoffettNathanson Annual Media & Communications Summit in NY. The other main method for Netflix to pay the bills is through those monthly subscription fees paid by its members.

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The company told Reuters the 33 films they've released in 2018 have been viewed more than 300 million times by more than 80 million customers around the globe.

"In this new genre-defining anthology series, acclaimed Academy Award-winning filmmaker Guillermo del Toro will present a collection of personally curated stories, that are both equally sophisticated and horrific", Netflix said.

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