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Netflix is increasing its content investment and is expected to invest $18 billion in production and acquisition of content in 2025, an increase of 11% from $16.2 billion in 2024. The news was officially announced by Netflix Chief Financial Officer (CFO) Spencer Neumann at the 2025 Morgan Stanley Tech, Media & Telecom Conference.
Spencer Neumann said Netflix is still in a stage of continuous growth and is far from reaching its development ceiling. “We are far from reaching the top, and as a global entertainment company, we are just getting started.” This huge content spending is seen as one of the strategies to drive margin targets, and Neumann further pointed out that Netflix's predictive power for return on investment is “quite solid”.
As of the end of 2024, Netflix has 301.6 million paid members worldwide, accelerating its growth compared to 2023. Overall, about 700 million people watch Netflix content worldwide. The platform has entered 40% of the global connected TV households, but accounts for only 6% of the accessible market. In the United States and other countries, Netflix still has less than 10% of the total TV viewing market, indicating that it still has room for growth.
Neumann further added: “We see growth opportunities all over the world, and the question is not whether to grow, but where the growth opportunities are the greatest and investment is the most valuable.” He emphasized that Netflix's current strategy is to “maintain the growth model, not maintain the status quo” and continue to increase the entertainment value of every dollar to cope with the progress of its competitors.
Under the leadership of Netflix Chief Content Officer (CCO) Bela Bajaria, the company will continue to focus on “localized impact”, attracting audiences from all over the world through “real narrative” and ensuring high-quality content can be disseminated across regions, further expanding its global market influence.
Looking ahead to 2025, Netflix raised its full-year revenue forecast to $43.5 billion to $44.5 billion, up $500 million from previous forecasts. In addition, Netflix announced in January 2025 that subscription plans in the United States and multiple markets will undergo price adjustments to support future content investment and platform development.
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