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.
