Originally posted on Variety:
Netflix CFO David Wells said the No. 1 streaming service will expand the breadth of its programming over the next few quarters, through original series and with more emphasis on licensing exclusive and “four- and five-star content.”
“Our intent is to continue to expand the content library meaningfully,” said Wells, speaking at the J.P. Morgan Technology, Media and Telecom Conference.
Netflix will spend a projected $3.2 billion in 2014 on streaming content globally. The content mix will shift toward higher-rated and exclusives titles, with “a little bit less depth,” according to Wells — a tacit acknowledgement that Netflix offers a lot of material that is not popular with subscribers.
But, he added, the company continues to see expansion the number of hours viewed on the service, which “is indicative that we are not just substituting content.” According to Netflix, it streamed 6.5 billion hours of video globally in the first quarter…
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