Netflix has grown their reach considerably with their offering of original content, including shows like House of Cards, Stranger Things, Daredevil, Jessica Jones, and films like Ridiculous Six and Beasts of No Nation.
That will only grow over time, as on a recent investors call at the Goldman Sachs Communacopia Conference, CFO of Netflix David Wells detailed the plan towards 50% original content for the popular streaming service. That plan won’t happen overnight, though (via Deadline).
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“It will take us a couple more years” to hit that target, he says. “We’re a third to halfway to where we want to be. … We’ve got a ways to go.” He also added that to get there the company will be a “a consumer of cash” over the next year and a half, possibly going through about $1 billion a year towards that goal.
The good news for Netflix is that according to Wells, the company will be “fairly disciplined” and it’s in a good position debt-wise, as opposed to the competition, which he adds “most of our media peers are much more levered” with debt. That does mean the price will go up over time, and will likely come from additional payment tiers. Wells did add that “we face pressure from investors that we’re underpriced.”
Wells also briefly touched on their feature films, and described them as “an experiment” that “helps round out the content offering.” Wells noted that he’s “pleased with Adam Sandler movies” and will continue to offer “a wide swath of smaller, more artistic, heavier” films in addition to their more mainstream content.
