Today at the Vanity Fair Summit Ted Sarandos said that Netflix created House of Cards seven years ago because they understood that content owners would someday stop selling their programming to Netflix. Ted Sarandos also brushed off concerns about Netflix losing access to shows like The Office and Friends. He went on to say that these shows “found viewers” on Netflix implying that people did not subscribe to just get access to these shows according to a tweet from Rich Greenfield.
From the looks of it, Netflix is betting that even if they lose access to content from larger studies that their original programming added alongside content from other parties will be enough to keep subscribers with Netflix. This comes as Netflix announced $2 billion in debt as a further investment in new content for the streaming platform.
According to the announcement, the funds will be used for “content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.”
“Amazing content can be expensive. We don’t shy away from taking bold swings if we think the business impact will also be amazing,” Netflix said in the statement last week.
The question now is will Netflix’s plan to fight off Disney+, HBO Max, and others pay off? For now, we will have to wait and see.
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