Netflix CEO Reed Hastings said spending $8 billion on content is not as much as it sounds, especially when considering that the money is spread globally.
Speaking at TED in Vancouver, Hastings said investing $8 billion in content may still not be enough for Netflix.
Axios reported that $8 billion is about the same amount that Disney spends on content, and as Netflix is competing with the likes of Disney, it should look at similar or larger investments.
Hastings also highlighted that House of Cards was not Netflix’s first attempt at original content.
When it started shipping DVDs, it tried to create original content, but failed.
Hastings said their first attempt did not work because they did not have the scale needed to produce a quality production.