Netflix Increases 2020 Budget Despite Global Pandemic

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Streaming giant Netflix has upped its spending budget to £750 million in 2020 for the UK, a fifty percent increase from last year.

2019 saw Netflix spend £500 million on British-made films and TV shows, around £100 million more than its estimated £400 million for the year.

Despite being affected by the Coronavirus pandemic, knocking production off plan, Netflix is still committed to making more than fifty films and TV shows in what remains of 2020, placing the UK at the centre of its production line.

Around one third of all Netflix films and shows are made in the UK, making this country a hub for film and drama.

The Crown, Sex Education, and The Witcher are among the shows that have been made in the UK this year and will be watched by the world. These shows are a testament to the depth of talent that exists here,” a Netflix spokesman said.

“The UK is an incredibly important market to Netflix, and we are proud to be increasing our investment in the UK’s creative industries.”

Last October, Netflix signed a deal to take over Shepperton Studios, famous for films such as Alien and Mary Poppins, which has guaranteed the quick disperse of production without delay. The Old Guard – a group of immortal mercenaries with the ability to heal themselves discover someone knows their secret and are forced to fight to protect their coven – was the first such production to come out of this studio in September 2020.

Whilst there is only one month left of 2020 and the new tier restrictions seem set to cause widespread disruption, Netflix, like its rivals, is on a mission. With more and more people spending time at home glued to their screens, now it is as important as ever for big companies like Netflix to adapt and bring the audience what they want.

Words by Maddy Raine

 

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