Netflix Doesn't Regret Spending $6 Billion on New Content
Netflix has no regrets on investing billions of dollars into new content, according to Netflix's CFO David Wells.
As reported by The Hollywood Reporter, Wells told Wall Street that Netflix will send about $6 billion this year on content, on top of the $4.8 billion it has in debt already.
Wells says that the money spent on new original shows like House of Cards and Stranger Things has helped Netflix get 104 million subscribers around the world.
According to Wells, Netflix may soon be more constrained with its budget. "We might be to the point where we might start seeing more budget constraint," Wells said. "That has some benefits in terms of helping drive discipline on the content line.
If Netflix doesn't regret spending billions, why did they decide to cancel Sense8, one of their best original shows? Thankfully, the show will get a 2-hour series finale.
Netflix is also finding ways to improve how it works on mobile devices, but Wells confirmed that the main focus right now is on the big TV screen experience.