Netflix would have launched up to 600 hours of original programming by the end of 2016, but that’s apparently nowhere near enough the company’s goal. According David Wells, its CFO, Netflix wants to fill 50 percent of its library with original shows and movies within the next few years. Seeing as the streaming service has such an expansive catalogue, ensuring half of its offerings in the US is made up of originals will be huge undertaking.
The company is around a third to halfway there, and it knows that on its way towards achieving that goal, not every original will be a huge hit like Stranger Things. “We don’t necessarily have to have home runs,” Wells said. “We can also live with singles, doubles and triples especially commensurate with their cost.”
Wells also reiterated what the company admitted in the past: it recently raised prices to fund its original projects, though that ended up affecting its user growth. However, he also noted that 33 to 50 percent of ex-subscribers eventually cave in and resubscribe. It’s unclear if the company is also looking to release as much originals internationally, but it aims to offer 20 percent local programming in countries outside the US.