Netflix' chief content officer Ted Sarandos has said that nearly 85 percent of Netflix's new spending is being used for original TV shows, movies, and other productions such as documentaries.
As Variety reports, the streaming service hopes to have 1000 original shows on Netflix by the end of 2018, with 470 of those shows premiering between now and the end of the year.
Sarandos reiterated that Netflix's heavier focus on original and exclusive content is driven by more favorable economics and the expectation that big media companies would eventually focus more on their own streaming-subscription services.
"They make a lot of great television and the things that they make are incredibly popular", said Sarandos, claiming that going direct, rather than buying a project at a time from studios like Fox, stands to benefit Netflix and creator alike. Adding: "The way we can secure those shows is having a great reputation with talent, having a brand people want to be associated with, and a good track record of delivering".
That's according to Variety, which reported on Sarandos' remarks today at MoffettNathanson's Media & Communications Summit 2018 in NY. Therefore, Netflix is now focussing on prioritising original content over licenced productions.