He was speaking at the MoffettNathanson's Media & Communications Summit 2018 in NY.
If you've only watched a few of the latter, then you're about to have a lot more to add to your "must watch" list since Netflix's Chief Content Officer, Ted Sarandos, said the platform will have 1,000 originals streaming by the end of the year.
In another startling disclosure, the streaming giant also announced that by the the end of this year, there will be 1000 original shows and films for viewers to choose from. "80 films are among the new original content for this year, including everything from low-budget productions to "$100 million blockbusters", Sarandos explained.
Netflix is easily one of the biggest streaming services on the planet right now. Apparently, more than 90% of Netflix users watch the original programming available on the streaming service, so it makes sense for them to double down and create as much as possible.
We're excited to see how Netflix continues to grow and evolve its programming in the coming years, and the awesome new content the streaming service will be sending our way soon. Some of this investment is recovered through the monthly subscription fees people pay. But prices do eventually go up, and for a company such as Netflix, finding that maximum price customers are willing to pay for something is always a mix of science and guesswork.
"Some subscribers are wiling to absorb materially higher pricing than what they are paying now", Olson said, "We found that a higher percentage of subscribers are willing to pay a higher monthly fee, suggesting Netflix content has improved in such a way that there is increased value to the subscriber base versus two years ago".
Part of the context here is that numerous studios that have sold their content to Netflix in the past are now either saving it for their own streaming services or looking to raise the prices.