Excerpt from BBC News:
Hundreds of movies disappeared from Netflix over 2016, the result of the streaming service’s decision to end several key content deals with top studios and distributors.
It was a brave move - particularly given that its main rivals, such as Hulu, jumped at the chance to take on some of those titles Netflix decided it no longer wanted.
The reason for the cull? Original content.
Netflix was being bold - its aspirations were no longer to be your on-demand DVD collection, but instead the place where you discovered and consumed new and exclusive shows.
So rather than pay money out to studios for the right to show existing content, it instead ploughed its cash into shows such as Stranger Things, starring Millie Bobby Brown, The Crown, Luke Cage and the remake of Gilmore Girls.
In 2016, those “Netflix Originals” - already a term you could argue has become synonymous with quality - came thick and fast.
The firm said it produced 600 hours of original programming last year - and intends to raise that to about 1,000 hours in 2017. Its budget to achieve that is $6bn - a billion more than last year.
Full article: BBC News