With the launch of Disney+ and Apple TV+ last year, and newcomers like HBO Max and Peacock arriving this spring, we're about to enter the most important time of the highly talked-about streaming wars. Every service wants to wrangle its piece of the pie away from competition, offering content that no other service can by producing its own movies and shows, or signing exclusive deals with popular titles like Friends, The Big Bang Theory, or The Office. Netflix has been going all-in on the former over the past couple of years, investing billions upon billions of dollars to deliver original films and TV shows that fans will invest in. That trend will unsurprisingly continue in 2020.
According to a forecast from Wall Street firm BMO Capital Markets (via Variety), Netflix is projected to spend a whopping $17.3 billion in content this year. That tops the $15.3 billion that was spent on content that was spent by the company in 2019. BMO reports that, by 2028, Netflix spending will top $26 billion.
The big budget paid off for Netflix in 2019, at least in terms of awards consideration and generating online conversation. The streaming service has multiple films nominated for Academy Awards, with Martin Scorsese's The Irishman and Noah Baumbach's Marriage Story in the running for Best Picture. Klaus, The Two Popes, I Lost My Body, and American Factory are also up for awards next month. On the television side, shows like The Witcher and The Umbrella Academy became major wins in their debut seasons, while previous hits like Stranger Things have continued to shine.1comments
The run at Oscars, Emmys, and other awards will continue for Netflix in 2020. The streaming service is preparing to release more content than ever before, with a higher budget than in previous years. That content will need to make waves because one of the most popular shows on the service, Friends, has now left for HBO Max. The Office and Parks and Recreation will be moving off of the service in 2021.
Are you looking forward to seeing what Netflix has in store in 2020? Let us know in the comments!