Netflix plans to up their cinematic content with plans to release up to 80 original films next year. The streaming service’s subscriber base has gained 5.3 million new members during Q3; 850,000 members in the U.S. and 4.45 million members internationally, with revenue of $2.99 billion, 30 percent more than last year. Netflix also raised its prices for the first time in two years with it’s $9.99 USD monthly plan raised to $10.99 a month, and the $11.99 USD premium plan up to $13.99 USD a month.
CFO David Wells clarified that “there’s no timing correlation between our intent to grow content and to grow content spending and the price increases.” He continued, “This has been planned for a long time.” Chief content officer Ted Sarandos explained in a recent interview: “I think people will start seeing the potential for this original movie initiative, that it could be done on the enormous scale we have on the television side.”
He then pointed towards big-budget efforts like David Ayer’s upcoming Netflix film Bright as an example of the scope of films audiences can expect from their continued investment in original films. “We had three different films released this quarter that, if viewing was buying a movie ticket, would be sizable successes in Death Note, Naked and To the Bone,” he said, “and probably very little audience crossover between them.That’s the benefit of the great new original programming coming nearly every day on Netflix.”