Despite a debt load in excess of $20 billion, Netflix CFO David Wells has signalled that spending on big budget productions like House of Cards, and Marvel’s The Defenders has only just begun.
“It’s going to be that way for many years to come,” he said at Goldman Sachs’ Communacopia media conference. “And the more successful we are, the more it’s going to be pushed out.”
The online streaming giant, which plans to spend more than $7 billion on content this year alone, is confident it will continue to churn out hits because of the data it gathers from its millions of global subscribers.
Netflix’s data on viewer habits and preferences “helps us put some boundaries around the projects we do,” said Wells.