Netflix Aiming to Release 90 Movies A Year, With Budgets Up to $200 Million

Showing no signs of slowing down, Netflix is planning to release 90 films every year with budgets that are expected to run around $200 million each.

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The streaming juggernaut Netflix is looking to release 90 films a year, with blockbuster-like budgets of roughly $200 million. For several years Netflix has been releasing original content, and it appears they have big plans going into the new year.

These days, streaming is the favored way to watch hours of endless entertainment. The biggest player in the industry right now is without question Netflix, and as cable continues to lose subscribers, Netflix continues to attract more people to sign up for the service. Every year, it adds more and more content that appeals to its wide variety of subscribers. Just this year, several highly-anticipated projects have arrived on Netflix, such as the latest entry in the Cloverfield series, The Cloverfield Paradox, and the Riverdale spinoff series, The Chilling Adventures of Sabrina.

Related: Netflix Purchases Horror Film Eli From Paramount

According to The New York Times, Netflix aims to release 90 films a year, with budgets as high as $200 million. This comes from the service's head of original films, Scott Stuber, who plans to cause panic amongst competitors. Cable television has already encountered massive competition from the constant wave of streaming services, and the film industry is no different, with streaming revenue likely to top the box office by next year. The report shared the following details on Stuber's goals:

"Mr. Stuber’s operation is set up to supply 55 original films a year, including some with budgets as high as $200 million. Add in documentaries and animated movies, handled by other divisions, and the number of annual Netflix film releases climbs to about 90. To compare, Universal, one of Hollywood’s most prolific traditional studios, releases roughly 30 movies a year."

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For the past few years, Netflix has had no issue in increasing its budget for new content, and 2019 was already set to be an exciting year for the platform as it plans to release several new projects. While it axed several series this year, such as Luke Cage, Iron Fist, and Daredevilthe service still has a lot of content to offer. And, with Stranger Things season 3 going live next year, the service will likely continue attracting more viewers. While Netflix continues to expand its library, it will have to deal with competitors in Hulu, Prime Video, DC Universe, and the upcoming Disney Plus, which is sure to gain an audience upon launch.

With so many new competitors expected to arrive next year, Netflix will benefit from expanding its film library. Fans of the original content the service puts out will certainly have to keep their eyes open for the abundance of shows and movies that will debut next year. If Netflix remains consistent with its original content, it should have no trouble remaining at the top of the industry as streaming entertainment continues to grow.

More: Netflix to Release John Green's YA Christmas Rom-Com Let It Snow

Source: The New York Times

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