Netflix now spends more on programming than Viacom — and it has Disney in its sights (NFLX, DIS, CMCSA, AAPL, AMZN)
Netflix's streaming video service began as a place to watch episodes of old TV shows and obscure movies. But those days are long past. The company first used major deals with the likes of Sony and Disney to improve its offerings. More recently, it's been ramping up the production of original shows, such as "Stranger Things" and "Black Mirror."
As the company has focused on improving its streaming offerings, it's been spending increasing amounts on acquiring and producing content. In fact, Netflix's content spending has gotten so huge, it's now in the same ballpark as that of some of the top entertainment companies, as this chart by Statista, which was compiled from a recent Recode report, shows.
The list of top spenders on programming could see some major upheaval in coming years. Not only does Netflix plan to keep increasing its budget, but Amazon, Hulu, Apple, and others are all looking to beef up their video efforts.
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