Netflix bets big on original content this year in 2020. Netflix is estimated to be spending $17.3 billion on content this year a significant increase from its 2019 budget of $15 billion. Netflix is betting big on original content as movie studios and television networks start their own services and pull back their content from the streaming giant. Variety reported on their site.
The streaming giant also has to deal with new services launched this year poaching away at their subscriber base with their own original content. Newly launched services like Disney+ and AppleTV+ are spending money on original content as well going forward. Disney has said it will spend $1 billion on original programming in 2020 and Apple has announced they will spend $6 billion on new original content in 2020.
HBO Max and NBC’s All Access are set to spend about $2 billion each. NBC has invested in the Star Trek franchise releasing a new original series Picard and Star Trek: Discovery. Meanwhile, Amazon has a $6 billion-dollar budget for original content for Prime, and Hulu comes in at $2.5 billion.
Compared to its competitors, Netflix is spending double or in some cases even seven times what they are spending. But it is important to point out that Netflix has always been a big spender in original content, and this does not take into account what ABC spends on original TV content that Hulu gets since its owned by ABC or what Disney spends on blockbuster movies that go to Disney+.