Netflix doubling European content budget to $1B — FT

Lawrence Kim
April 19, 2018

The new projects form part of a total of over 100 planned projects in the EMEA region originating in 16 countries spanning from Europe to, for the first time, the Middle East and Africa, in 16 languages.

Seven original series from European creators will be new on Netflix in 2018, including a few that deal with otherworldly elements.

"Our belief is that great storytelling transcends borders", Netflix's Chief Content Officer Ted Sarandos told audiences at the showcase.

The video streaming company yesterday unveiled ten new European projects, including two series to be made in Britain, as it almost doubled to 100 the number of projects that it plans to launch in the region in 2018.

The budget will go to expanding both English and foreign-language offerings with new dramas in Spain, Germany, Italy, France, Poland, Turkey and the Netherlands, according to the report.

For instance, Dark, which debuted last December, generated unexpected fandom in countries such as Chile, Bangladesh and Canada. Indeed, Netflix revealed that every hour of Dark watched in Germany, nine hours were watched internationally.

Another Italian project is the original movie Rimetti A Noi I Nostri Debiti (Forgive Us Our Debts).

The move is bound to have repercussions for traditional European broadcasters who, like their USA counterparts, are struggling to maintain viewers amid growing competition from the likes of Netflix and Amazon.

New subscriptions added during the company's first quarter included more than 2m new United States users and more than 7.4m new global users - a 50pc increase on past year.

Analysts estimate that Netflix, which began life as an online DVD rental player in 1997, could add 70m subscribers to its platform between now and the end of 2020.

Other reports by Click Lancashire

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