BY SHAMAN MOMOH
Reed Hastings, Netflix‘s CEO has revealed that the company is set to spend $5 billion next year on content which would continue to focus on original shows.
Hastings was speaking at the DealBook conference in New York on Tuesday when he made the revelation.
The Netflix co-founder also said that content such as newscasts and live sports will not be finding their way to the platform anytime soon.
“You don’t want to invest in things that are dying,” Hastings commented. However, Hastings said there was not “nearly enough” content and that Netflix was trying to “expand significantly.”