Far more films than its biggest studio competitors.
17 May, 2018FORTUNE.COM
Netflix is revamping its library with its own original movies. The streaming giant is on track to release 86 original movies this year, far more than every other top studio competitor.
Netflix’s closest rival in terms of film releases for 2018, Universal Studios, is coming out with less than half of what Netflix has planned at 39 releases, according to Reuters. Sony and Lionsgate follow and are on track to release 26 films, and fellow streaming service Amazon Studios has 10 to 12 films slated to be released this year. Netflix is also outpacing itself after it released a record 61 original films last year.
It’s a big budget undertaking with Netflix putting $8 billion behind programming for 2018, though that figure includes films, television shows and content licensed from other studios.
Netflix told Reuters the move is based on serving a global audience, and at least 17 of those new films will be in languages other than English. The uptick in releases also comes after Walt Disney Co. said it would stop providing new films to Netflix’s United States customers beginning in 2019 in favor of its own streaming service.
It seems to be paying off for Netflix, as the company tells Reuters it saw an average of 9 million viewers for its 33 films released so far in 2018. And the company’s stock has also been soaring to record highs.