Netflix spending less on new content

Streaming giant Netflix is cutting back on production of original content in a money-saving exercise focused on creating fewer but higher quality shows

NETFLIX ORIGINAL CONTENT SPENDING ($billions)

$5 4 3 2 1 0
2015 2016 2017 2018 2019  2020 2021 2022 2023

Q4 2021: Spending peaks at $4.8 billion
      
Q3 2023: Budget falls to $3.2 billion (down 32% on peak)

High investment yielded global hits like Stranger Things, The Witcher and Squid Game (left), but also its fair share of forgettable flops

Sources: Bloomberg, Variety, Chartr

Illustration source: Netflix © GRAPHIC NEWS