Netflix to spend £400MN on UK content | VOD | News | Rapid TV News
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The 800lb-gorilla of subscription video-on-demand is about to start flexing its financial muscles in the UK big time, committing to more than 50 projects for a value of more than £400 million, Netflix CEO Reed Hastings has revealed.
NetflixUK 5Nov2018
Making the keynote at the Royal Television Society conference, Hastings announced that over the next several years, the SVOD leader would make significant increases in content produced in the UK, seeing the country have Netflix’s second-largest production budget after the US. IN July 2019, the company announced that it would set up a dedicated production hub at the famous Shepperton Studios in the UK, featuring sound stages, workshops and office space to produce, along with partners new and existing TV series and feature films.

Hastings told the RTS event: “We're really about trying to find great stories. We're trying to get a set of shows in the UK that are provocative, interesting and creative. While we have always been competing with people, it's a whole new world now with [Apple TV+] and [Disney+] launching, there's tremendous competition. Sometimes you do your best work when you're really challenged.”

As well as revealing how much money the company was set to spend in the UK, Hasting also reaffirmed his commitment to the company’s business model and that Netflix’s role was creating new shows instead of licensing existing ones. When asked about which shows he would like to add to the roster, he indicated Phoebe Waller-Bridge’s Fleabag would be a perfect fit for Netflix.