It’s well known that Netflix’s push for original content is a big part of their sales pitch these days. The company has pledged a mammoth $6 billion to original content in 2016, but the future seems to be even more ambitious for the company. According to Variety, Netflix is hoping to make at least 50% of the streaming platform’s content to be original series and productions. Netflix CFO David Wells calls it part of a “multiyear transition and evolution” towards more of the company’s own content:
The original TV series and movies will continue to be a mix of content owned and produced by Netflix, as well as co-productions and acquisitions, Wells said. The company is “one-third to halfway” toward reaching the 50% originals target, he said. Not every show needs to be a breakout hit, he added: “We don’t necessarily have to have home runs… We can also live with singles, doubles and triples especially commensurate with their cost.”
As the cost of content production has gone down, the number of bidders for high-quality content and the amount of that content have increased as well, Wells said. “You have supply and demand settling out,” he said. “We would love to provide as many of those stories as possible to the consumer.”
The platform has had plenty of success so far, with its partnership with Marvel yielding plenty of fruit and its own original shows like Stranger Things or Orange Is the New Black becoming viral successes almost overnight. The company says its goal is to offer “something that appeals to each individual subscriber” each month, according to Variety.
And if you thought that Netflix might be aiming to take advantage of their original programming or ongoing success by instituting ads, don’t worry. “The Netflix brand stands for no advertising,” according to Wells.