New on Netflix's 2016 Agenda: Making Real Money
- More than 100 new markets on the map in global expansion
- And a `startling' programming budget of about $5 billion
Netflix's Big Ambition for 2016: Serious Profits
Netflix Inc., which delivered the best return of any stock in the S&P 500 last year, has ambitious plans for this year so it can produce something new next year: serious profits.
Investors have been fine with very little of those because Chief Executive Officer Reed Hastings has said things would change after the company completed its global expansion. That’s supposed to happen in 2016, with the introduction of the online video service to more than 100 new markets, including China, India and Indonesia. At the same time, Netflix will spend about $5 billion on programming, more than twice as much as HBO’s estimated budget, and double its production of original series. If all goes as planned, Wall Street expects net income could soar to more than $500 million in 2017.