Online streaming service Netflix is set to spend $17 billion on content this year.
According to a forecast by Wall Street firm BMO Capital Markets, the streaming service will invest around $17.3 billion. According to BMO, Netflix’s new budget will largely focus on originals.
This year’s projection is an increase from $15.3 billion spent in 2019.
The brand’s spending will reportedly top $26 billion by 2028.
Despite the rise of competing streaming services, Netflix has maintained steady subscriber growth. BMO Analyst Dan Salmon, via ‘Variety’ In 2019, Netflix debuted a record of 802 hours of original programming and landed 24 Academy Awards nominations.