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Netflix predicted to spend $17.3 billion on content this year

Expected to surpass $26 billion by 2028

Netflix is forecast to spend $17.3 billion on content this year, according to BMO Capital Markets, up from $15.3 billion in 2019.

The company’s content spending is expected to surpass $26 billion by 2028, mostly going towards originals.

BMO also called Netflix’s recently announced Korean content deals “a stepping stone to scaling subs in one of [the Asia Pacific region’s] wealthiest and largest addressable markets.”

Netflix’s content spending is significantly higher than its competitors, with Disney Plus announcing $1 billion for original programming in 2020.

“We continue to believe the ‘streaming wars’ narrative is false and there will be multiple winners in global streaming,” said BMO’s Dan Salmon.