Netflix has big plans for the year ahead, according to chief content officer Ted Sarandos.
The streaming service and content creator is positioned to release at least 80 original movies in 2018, Sarandos said Monday at UBS’s Global Media and Communications Conference in New York.
As the company grows its production of original content, executives are confident it will show viewers the heighten "value" in its service as opposed to airing only outside entertainment.
"There's a funny debate over whether a movie for Netflix is really a movie,'' Sarandos said. "This is a generational thing. My 21-year-old would say, 'Of course it is. If it's not on Netflix, it's not a movie.' ''
The company has jacked up its production budget to meet these lofty goals, projecting it will spend between $7 billion and $8 billion, up from $6 billion this year.
As for its television series releases, the company plans to produce 60 'global' series, 30 local language scripted series for international release and 30 other shows, including anime series, documentaries and unscripted shows or specials.
Of those series, Netflix will continue The Crown, which Sarandos said is the business' "most efficient shows" for obtaining and keeping subscribers. The show has been renewed for its third and fourth seasons, and the sophomore season will be available for streaming on December 8.
Sarandos announced that House of Cards would continue production of a sixth and final season starring Robin Wright, and without Kevin Spacey, in early 2018. The political thriller will conclude with eight episodes.
“We were really excited we could get to an agreement… for the conclusion of the show,” he added.
Netflix is also jumping into the children's entertainment space as it will create 60 original kids series in-house next year, as well as its first animated movies. It could make four or five animated films a year, just months after the company announced that all Disney films would be removed from the service.
“We’ve been careful to not become a one-brand network. The way to do that is having a lot of variety, and executing in multiple genres at a high level,” Sarandos said.