Netflix is aiming to have 700 original films and TV shows this year

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Streaming giant Netflix continues to invest heavily in its catalogue of films and television programmes, not least because it faces some hefty competition in the next year or two. It’s looked to lessen its reliance on other people’s material, and grow its library of original productions as a consequence.

David Wells, the company’s chief financial officer, has now admitted that the plan Netflix is moving towards will see it split its original and licensed productions 50/50, and this year alone, it’s targeting 700 original films and shows.

It’s not going to be cheap, either, with the firm reported to be spending just south of $10bn this year making new material for its service. But Disney in particular is lining up a Netflix rival, and Amazon is spending big on its own streaming service too. The competition in the years ahead looks fierce…