Netflix to produce original films and documentaries as subscribers breach 40m barrier
Netflix, the online film and TV streaming service, has announced that its subscriber numbers have surpassed 40m for the first time, buoying the firm into committing to produce original films for the first time.
It follows the highly successful debut of Kevin Spacey’s House of Cards on the platform which has provided confidence to invest in more original content.
This will see Netflix double its investment in original programming next year to produce its first movies as well as a slew of documentaries.
Chief content officer Ted Sarandos said at the company's third quarter earnings announcement this week: "On the movie side, I'd keep my mind wide open to what those films would be and what they would look like."
Profits in the three months to the end of September rose to $31.8m from $7.7m a year earlier.