【Detective Archives】
Netflix turned the TV industry upside down and Detective Archivesbuilt itself into a powerhouse on the back of its series.
Now, it's turning its attention to the movie industry.
Netflix is planning to release around 80 original movies in 2018, chief content officer Ted Sarandos said on Monday's earnings call.
That's a considerable increase on the 50 planned for 2017. The company's film lineup includes traditional movies as well as documentaries.
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Netflix's push into movies comes as the company continues to increase its budget for original content. Netflix said on Tuesday that it could spend $8 billion in 2018 on content.
It also will help offset the dwindling number of movies on the platform made by other companies. As Netflix's power has grown, its partners are growing wary of selling off the rights to its libraries. The biggest blow to Netflix's library will come in 2019, when most all of Disney's movies will disappear.
Netflix hasn't yet had the kind of success in movies as it has with its TV series, but that could soon change. The company has numerous big-budget efforts in the works with major stars attached. There's Bright, starring Will Smith and boasting a budget near $90 million. And there's The Irishman, staring Robert De Niro and directed by Martin Scorsese.
The sheer scale of Netflix's efforts should begin to yield some hits.
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