Netflix's streaming content obligations 2010-2023

Netflix's streaming content obligations reached 21.71 billion U.S. dollars in 2023, slightly down from the previous two years. Despite this decrease, the figure still demonstrates Netflix's substantial investment in acquiring and producing content to maintain its competitive edge in the streaming market.

Content spending and global expansion

Netflix's content spending has grown substantially over the years, increasing from 4.7 billion U.S. dollars in 2016 to over 14 billion U.S. dollars in 2023. While North America has traditionally been the company’s largest market, a forecast suggests that by 2024, spending on local content may surpass investments in North American programming. This move reflects Netflix's efforts to cater to its growing subscriber base in Europe, Asia, and Latin America and demonstrates its global expansion strategy.

Growing customer numbers driven by original content

In 2023, Netflix's original content continued to be a major draw for viewers, with 51 percent of U.S. consumers enjoying to watch original TV programs on the platform the most. This preference for originals has grown over time, indicating the success of the company's investment in own productions. However, after a notable increase and a peak in originals released in 2022, the number of new Netflix titles declined in 2023, suggesting a potential shift in the streaming provider’s content strategy.