There was a time when Netflix was best known for being widely considered the cause of Blockbuster’s death spiral. The movie-rental giant of the past is now as good as a thing of the past. Its one-time refusal to ally with the then-upstart web service has been blamed for its eventual downfall.
Now Netflix Original must make sure it has the same foresight that Blockbuster lacked. With that said, as long as it is wary of more shrewd competitors emulating its approach, it should be able to build on its impressive foundation.
Over the past five years, Netflix Original has cemented itself as the leader among streaming services in creating original content. Having released a reported 126 original TV shows (per slashfilm.com‘s Peter Sciretta) in the last year alone, its programming output exceeds that of than any other network, streaming only or not.
And following the precedent of programs like House of Cards, Orange is the New Black and Narcos, it has consistently released critically acclaimed content. The pattern driving that mill of success embodies the adage of getting your money’s worth.
The company put forward $6 billion toward original programming in this calendar year. It will reportedly raise that investment to $7 billion in 2018.
This is far and away the biggest budget among TV networks and streaming networks. With it, Netflix has even had some shows rival those of HBO.
This makes it that much harder to believe that it still has not been five full years since Netflix Original got its start in earnest. The enterprise began with House of Cards, which premiered Feb. 1, 2013, and has since won two Golden Globes.
Bolstered by that success, Netflix Original has now expanded its programming to produce shows for more niche audiences. Documentaries, be they packaged as feature-length films or as a miniseries, are the prime example.
Making a Murderer had such a significant impact that it brought a closed case back into the public eye. And it brought in four Emmys, along with five other awards.
Judging by its volume of early success with original content, Netflix should be fine. It has never been afraid to broaden its budget to ensure quality programming.
In all, Netflix Original has gotten its fingerprint on 43 Primetime Emmys, 16 Daytime Emmys, four Golden Globes and one Oscar. It is covering every base and every taste, and critics and consumers are savoring its flavors.
But with the 20-year-old parent company’s service prices set to rise, Netflix Original will surely lose some subscribers. The question from Netflix’s perspective, however, is whether it can offset the drop in cumulative customers with added subscription revenue. If so, then one would expect it to continue its production of original content.
The shift to more original programming comes at the perfect time. For its first 15 years of operation, Netflix was exclusively an aggregator that streamed content from traditional TV networks.
Now that many of those networks, such as AMC, are pursuing their own streaming services, this pivot to original programming is going to be crucial in determining whether Netflix sinks or swims in the future.
Judging by its volume of early success with original content, Netflix should be fine. It has never been afraid to broaden its budget to ensure quality programming. Maintaining that approach will be crucial when consumers look at what they are getting from their more expensive subscriptions.
Netflix could eventually adopt an HBO-esque style. After growing its reputation, it could become a premium service that focuses on large productions.
As for now, Netflix Original will continue to operate as normal because there is no need to take such drastic measures. There is no reason to believe that the original content is going to dip in quality, which is good news for Netflix’s subscribers.
If anything, the added funding will help to create more content like Beasts of No Nation. Despite some controversy and boycotts, it won 32 awards from smaller guilds, making it the company’s first major success among original feature films.
And much of the upcoming programming, such as Ozark and Peaky Blinders, projects to follow the tradition of successful Originals. With these now in the fold, Netflix appears to be in good hands for the future.
Leave a Reply