Netflix CEO: Why Even $8 Billion Investment in Content Isn’t Enough

Netflix expects to spend about $8 billion on content this year. For Hollywood studios, that’s a reasonable figure. But for Netflix CEO Reed Hastings, it’s not enough. From a report: The company is competing against a range of traditional entertainment companies around the globe, and of course, against the need to work, sleep and do other things. Speaking at TED in Vancouver, Hastings noted that $8 billion is about what Disney spends. “That’s spread globally,” he said. “It’s not as much as it sounds.” Hastings noted that House of Cards wasn’t really the company’s first effort at original content. It had tried back in the days when it was still mailing out DVDs. “It didn’t work out because we were sub-scale,” he said.

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