Netflix is now spending 5% of its content budget on original movies

Netflix has sought to shine in the streaming media world by providing a plenitude of original content to subscribers. Today the company disclosed a specific figure about how much it’s willing to pay when it comes to producing original films, specifically.

“We are investing about 5% of our cash content budget in original films,” the company said in its quarterly earnings statement for the quarter ending on March 31. “As we learn, we may spend beyond that, once we’ve established that new, fully ­exclusive movies debuting on Netflix creates more consumer excitement and member viewing than the territory-by-territory licensing of nine-month-old, ‘Pay One’ movies that are also available on TVOD and DVD.”

And so far Netflix is off to a strong start to 2016, with “our most ambitious slate of content releases to date” for the quarter. For this second quarter of the year Netflix will be releasing original films The Do-Over, Special Correspondents, The Fundamentals of Caring, and Braham Naman.

In January Netflix announced a partnership with Dreamworks Animation in order to make additional original content.

Netflix closed out the quarter with 81.5 million subscribers and $1.96 billion in revenue.

Amazon has also been revving up its production of original content. Today Amazon launched a standalone monthly video streaming service.