Netflix recently celebrated its ten-year anniversary of debuting original content. Starting with deliverable DVDs and moving on to streaming, the platform has since produced a vast number of original titles.
As reported by Whats On Netflix, there are 6,621 films, television series, mini-series, and special programs available on the streaming service, 3,657 of which are Netflix originals. Netflix’s original content now makes up 55 percent of its U.S. video library, up 5 percent from last year.
Although overall original titles have a digital home on Netflix, the streaming service only released 49 original titles this year. That’s approximately half of the 89 original titles Netflix released in 2022. Even so, releasing 49 new films and series in a year is still pretty impressive.
Some original films and series are slated to be removed from Netflix’s content library. In 2022, 38 Netflix originals were removed from its U.S. content library. Netflix has licensing agreements with some projects to stream exclusively on its platform, which counts as a Netflix original. If a series or show isn’t performing well, Netflix chooses not to renew these agreements.
Netflix has been investing a lot of money over the past ten years to build up its collection of original programming. The company has had a few rough quarters with declining memberships and is restructuring operational expenses.
At the end of 2022, Netflix had around 230.75 million subscribers and after the first quarter of 2023 had gained around 2.5 million new accounts. By the end of this year, Netflix is hoping to grow its memberships to over 251 million and reach over 280 million in 2024.
As a result, Netflix has been scaling back on production costs while trying to drive up subscription numbers. The streaming service is striving for more of a quality-over-quantity content strategy as more people are cutting back on streaming subscriptions and condensing their expenses.