That’s according to the latest estimates from S&P Global Market Intelligence’s Kagan media research unit. The analyst group’s forecast of Netflix amortized spending of $13.60 billion in total content costs this year includes $5.21 billion for originals (or 38% of the total).
By comparison, Netflix’s amortized content spending was $10.81 billion in 2020 and $9.22 billion in 2019, according to Kagan. On a cash basis, Netflix has told investors it expects to spend $17 billion this year on content.
Ever since Netflix first entered the originals market in 2011, it has steadily ramped up originals spending — anticipating studios would hold back TV shows and movies for their own streaming platforms. In 2014, about