Over the last ten years, Netflix says it has invested more than $135 billion in films and series, contributing over $325 billion in gross value added to the global economy. It has launched a report and campaign it calls the Netflix Effect to promote the economic, cultural, and social impact of this.
Ten years ago, Netflix expanded its international footprint from 60 countries to 190 in a single day. It has also expanded its production base globally, producing in over 50 countries and languages, and filming in over 4,500 cities and towns around the world. More than a third of films and series viewed on Netflix are non-English language. Titles are dubbed in a total of 36 languages, with subtitles in 33 languages. As Netflix says, it is turning local stories into global phenomena.
The company says its productions have created more than 425,000 jobs for actors, writers, directors, and other creatives, and over 700,000 additional extras and day workers.
Netflix measured the direct, indirect, and induced economic value generated by its operational and content-related spending across countries worldwide. That does not include things like increased tourism or selling themed merchandise or experiences.
Writing on the Netflix web site, Ted Sarandos, the co-chief executive of Netflix, says: “while other entertainment companies pull back, we’re leaning in — spending tens of billions of dollars on content every year”.
“These days, the entertainment business is changing even faster than when we started — which is why, as we look ahead to the next decade, we’ll keep investing in the relationships we’ve built with the creators we work with, the communities we depend on and the fans who love to watch.”
Netflix is clearly keen to promote its role as a production studio, although over three quarters of titles on Netflix are licensed from third parties. However, the top movies and series viewed globally on its platform are Netflix originals, which points to its promotional power.
Netflix has more than 325 million paid subscribers globally and says it is entertaining over half a billion people in more than 190 countries.