LONDON – As the streaming competition continues to shape up, Netflix has turned the focus on bettering its video content library to remain on top. As a result, Netflix has been increasing its video content budget annually.
Data presented by Bankr estimates that Netflix will spend about $19.03 billion on video content in 2021. The amount will be an increase of about 10% from $17.3 billion spent in 2020. Since spending $2.4 billion in 2013, the streaming giant has been increasing its video content budget yearly.
The research also overviewed the number of Netflix paid subscribers globally from 2011 Q3 to Q3 2020. Over the period, the subscribers have grown by a staggering 807.67%. As of Q3 2011, the figure stood at 21.5 million while in 2020, the number is at 195.15 million.
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