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Netflix Announces New Phase Of Growth

Netflix is entering a new era of content growth, with the streaming company looking to cut costs while also boosting its content offerings to remain on top of what is an increasingly competitive market.

According to Netflix Co-CEO Ted Sarandos, the streaming giant’s new growth phase will include expanding the platform’s international content. Sarandos announced earlier in the week that Netflix would invest $2.5 billion in its Korean content over the next four years.

The company is also looking to expand its foothold in sports. While Sarandos has reiterated that the company is not yet looking into streaming live sports, the company is continuing its foray into docuseries and other sports content such as “Formula 1: Drive to Survive,” “Full Swing,” and “Break Point”.

In addition to expanding its content offerings, limiting losses has also been a priority for Netflix. While the company’s ad-supported tier provides a new avenue of profitability for the company, Netflix is also looking to cut costs, with the company announcing a flat year-over-year spend of $17 billion.

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