INTERNATIONAL - Netflix will make a “big increase” in its investment in British television production next year, taking advantage of the country’s strong story-telling expertise, Chief Executive Reed Hastings said on Friday.
“The possibilities the internet brings for growing entertainment is phenomenal, and over the next several years with all of the expansion I think we are going to see a very large increase in how much content is produced here in the UK,” he said at the RTS television industry conference in Cambridge, England.
“This year we spent a little over 400 million pounds ($502 million) in the United Kingdom and that’s continuing to grow following our subscriber base.”
Asked if Netflix would spend twice as much next year, he said: “Probably not double, but a big increase.”
Reed Hastings is the co-founder and Chief Executive of the online streaming service Netflix.
Photo: REUTERS/Edgard Garrido
As of April 2019 Netflix has 149 million paid subscribers.