The world’s largest video-streaming service said it will spend over $17 billion on content this year. Netflix has seen a drop in original content releases on its platform since production was suspended for much of 2020 due to Covid-19 pandemic safety protocols.
Although the platform’s original programs have dropped by 20% since this time last year, the digital streaming firm had added 4 million new subscribers this year, which is a record growth in the number of subscribers.
Notably, Netflix had spent $11.8- billion in the budget in 2020 and $13.9 billion in 2019. Popular programs prepared for the back half of 2021 include “Sex Education,” “You,” “The Witcher,” “The Kissing Booth” finale, “Red Notice” starring Gal Gadot and Ryan Reynolds, and “Don’t Look Up.”