Netflix could spend as much as $5bn on content in 2016, according to analysts.
The VoD service is expected to invest around $3.3bn in programming this year, meaning the 2016 projection from Janney Capital Markets would represent a 50% boost in spend.
It would also mean that Netflix would spend more than the $4.5bn estimated to be currently spent by HBO, Showtime, Starz and Amazon combined.
Netflix would become the second biggest US investor in programming after sports broadcaster ESPN.
Tony Wible, managing director of entertainment and digital media at investment firm Janney Capital Markets said that Netflix’s international growth, with more than 57 million paid subscribers, is driving this boost.
“The spend builds a competitive advantage and virtuous cycle as it draws in more subscribers that allow it to afford more content,” he said.
“Amazon’s investment exemplifies the competitive hurdles as it is spending roughly half of what Netflix does in the US but yet Netflix is seeing 1,250% greater usage.”
The programming spend includes the acquisition of rights, both in the US and around the world, as well as its growing expenditure on original programming.
Netflix chief content officer Ted Sarandos recently said that it was looking to produce 20 original series per year.
He plans to build on shows such as $90m epic drama Marco Polo and forthcoming dramas including Tina Fey-produced Unbreakable Kimmy Schmidt, Wet Hot American Summer, legal drama Bloodline, a Jane Fonda-fronted comedy and Marvel adaptations including Daredevil.
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