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  • 09.21.16

Netflix wants its streaming catalog to be 50% original content in the next few years

Netflix CFO David Wells made the announcement at Goldman Sachs’s Communacopia conference Tuesday, reports Variety. The company is hoping that more hit original content like Daredevil, Stranger Things, Orange Is the New Black, and The Little Prince will help it fend off streaming rivals such as Amazon. Currently Netflix is “one-third to halfway” toward reaching the 50% originals target, Wells said. In 2016 Netflix offered 600 hours of original content—up from 450 hours in 2015, and it expects to spend $6 billion on content in 2017, up from $5 billion this year.