Can we say cha-ching!
Looks like Netflix will not be slowing down their content anytime soon despite the competitive streaming field.
According to a new projection by BMO Capital Markets, the streaming service will invest roughly $17.3 billion this year in content on a cash basis, with most of the money going to original content. That is an extra $2 billion from last year and they will spend close to $26 billion in 2028.
With the success of various movies and shows, subscribers and recognition at awards shows for films like The Irishman and Marriage Story, it's no surprise Netflix is banking on a formula for content that works.
A U.S survey in December revealed that Netflix was the top pick for consumers as they view content on TV: Netflix led with 25%, then basic cable (18%), regular broadcast (17%) and YouTube (13%).
In comparison for 2020, Disney has said it will spend $1 billion on original programming for Disney Plus, WarnerMedia will spend to $2 billion in HBO Max, while Comcast/NBCUniversal are estimated to spend $2 billion for Peacock for 2020-2021.
Who do you think is winning the streaming war as more competitors enter this part of the industry? Will Netflix remain on top?