Netflix has confirmed that it won’t run out of new context this year. Major production houses and entertainment companies are facing a difficult time right now. Production on sets around the world has stopped completely and has left with no option but to postpone the new release. Netflix, however, seems to be immune to the current situation created by the outbreak of coronavirus. During the earnings call, the company said it has enough content to last through this year. Also Read - Netflix adds over 15 million new subscribers as streaming becomes new way of life
This is in stark contrast to other major production houses, which have been forced to change their schedules. “Our 2020 slate of series and films are largely shot,” Ted Sarandos, the company’s chief content officer, told analysts during the earnings call. He also confirmed that the company is in post-production stages in locations around the world. While most entertainment companies are scrambling to fix their slate of releases for this year, Netflix is focusing on 2021. Also Read - Netflix released 10 documentary films and series on YouTube for free
“We’re actually pretty deep into our 2021 slate. We don’t anticipate moving the schedule around much, and certainly not in 2020,” Sarandos added. Also Read - Netflix is now worth more than Disney due to pandemic binge-watching
The question has been how Netflix could get its content platform ready compared to other players in the segment. Sarandos mentioned on the call that the company works differently from its peers in the industry. Unlike HBO, which drops a new episode every week, Netflix drops all episodes at once. Sarandos says Netflix thus shoots pretty far in advance. He also confirmed that the company is working on more than 200 projects remotely right now.
The highly anticipated fourth season of The Crown is reportedly in finishing stages. Netflix says it plans to release the show later this year. Netflix says it has content including scripted programming, animated series, movies and other titles planned for the next 12 months or so. In other words, if you have to stay in your home for an even longer period of time, Netflix has you covered with new content.
Netflix’s success amidst the pandemic was visible during the earnings call. The streaming company announced it added nearly 16 million new subscribers during the first three months of this year. The jump in subscribers came due to people staying at home during the lockdown period. It also highlights the resilience of the company and its ability to fight new rivals like Disney+, Apple, NBC and others. However, the road ahead looks uncertain and Netflix warned of an expected decline in viewership and slowdown in growth.