Netflix already produces a significant amount of quality original content, with shows like Narcos, Orange is the New Black and Stranger Things, but according to the streaming giant, it plans to soon ensure half of the content on its platform is self-produced.
David Wells, the company’s CFO, stated this week in an interview with Variety that there will be a shift in the balance between the amount of content Netflix licenses from other production companies and content it creates itself. He emphasized that the platform is already “one-third to halfway” toward reaching its original content target.
Wells went on to say that Netflix will continue to adopt a strategy where it mixes producing content like with Emmy-winning Master of None, with co-productions like in the case of Beasts of No Nation. Netflix feels that this will help the company reach this 50/50 split within the timeframe it has set out.
Earlier this year, Netflix stated that it has plans to release 600 hours of original content in 2016, up from 450 hours in 2015. Adding more original content to its library differentiates Netflix from its competitors and adds more value to the service, though producing half of its content through production partners as well as on its own, is a lofty goal for the platform.
It’s worth noting that producing original content helps the platform circumvent the often convoluted regional rights system that currently prevents the company from releasing some content on a worldwide basis.