Netflix on Tuesday announced that it has spent more than $135 billion on licensing and original film and TV over the past decade.
“While other entertainment companies pull back, we’re leaning in — spending tens of billions of dollars on content every year, investing in production facilities from Spain to New Jersey,” co-CEO Ted Sarandos said in a blog post accompanying a new interactive site called “The Netflix Effect.”
According to Netflix, the company has contributed $325 billion to the global economy in that time, creating more than 425,000 jobs.
As Sherwood News has previously reported, Netflix continues to increase its content spend, but that investment has notably slowed in recent years when weighed against revenue, dropping from a content spend ratio of $0.72 per $1 of revenue in December 2019 to $0.40 per $1 in March. This year, the company has projected a content spend of $20 billion, up 10% year over year. The company’s annual revenue forecast is between $50.7 billion and $51.7 billion.
All that spending has paid off for Netflix, too: the streamer has pulled in more than $46 billion in profit over the past decade.