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from the original-content-for-the-win dept.
Netflix's foray into original content is paying off:
[Rather] than pay money out to studios for the right to show existing content, it instead ploughed its cash into shows such as Stranger Things, The Crown, Luke Cage and the remake of Gilmore Girls. In 2016, those "Netflix Originals" - already a term you could argue has become synonymous with quality - came thick and fast. The firm said it produced 600 hours of original programming last year - and intends to raise that to about 1,000 hours in 2017. Its budget to achieve that is $6bn - a billion more than last year.
On Wednesday we learned the company has been rewarded handsomely for putting its eggs in the original content basket. After hours trading on Wednesday saw the company's stock rise by as much as 9% on the news it had added 7.05 million new subscribers in the last three months of 2016. That's far greater than the 5.2 million they had anticipated, and left them ending the year with 93.8 million subscribers in total - and an expectation of breaking the symbolic 100 million mark by the end of March. In all, 2016 saw Netflix take in $8.83bn in revenue - with a profit of $186.7m.
Also at USA Today, TechCrunch, and Reuters.
Previously: Chris Rock Reportedly Signs $40 Million Deal With Netflix for Two Comedy Specials
Netflix Throws In the Towel On China
Netflix Lets Users Watch Videos Offline -- No DVDs Required
(Score: 0) by Anonymous Coward on Friday January 20 2017, @02:27PM
Well, for starters, I don't have much of a desire to pirate anything, at least as a regular practice. I don't feel entitled to these movies so I don't pirate them just like I don't steal chewing gum from the grocery store checkout line even though it would be very easy to do. If the price for this content is set too high, then I'll turn my attention to something else instead of justifying to myself how I deserve to get it and pat myself on the back with how clever I am to get it for free.
I really don't get your lack of perspective. I expressed a distaste for the direction their business model is headed and you take that as a statement of them being terrorists? My point is that they are moving away from their modus operandi. You might like their new content, and that's fine, but I don't want yet another fucking HBO. It was a good source for a very nice broad pool of on-demand programming, but that pool is shrinking for a variety of business reasons they're making.