Netflix says it can spend more on own shows now that it's not paying for 'The Office' and 'Friends'
, Netflix users watch about 164 million hours of content on the streaming service each day, or about 5 billion each month. To put that into context, that's about 60 billion hours of content in a year.
So, even though "The Office" was the most watched show, it accounted for far less than a percent of the total hours customers spent watching Netflix in 2018. Netflix has been prolific in adding new original content to its streaming service, it far and away exceeds what its competitors release each year. In 2019,for its original content including "When They See Us," "Nailed It," "Dead to Me" and "Russian Doll."
Netflix has been burning through cash over the last decade to add more. Guillermo del Toro , Ryan Murphy and Shonda Rhimes , among others, have been hired to create unique content only available on the streaming service. In some cases, these contracts span several years and are said to be worth hundreds of millions of dollars.
Last year, Netflix shelled out more than $12 billion to purchase, license and produce content. This year, that figure will rise to $15 billion. It will spend $2.9 billion more on marketing.
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