SALT LAKE CITY — Streaming services like Netflix often spend large amounts of money to lock down quality content, but nobody in the streaming game is spending as much as Disney.
According to the Hollywood Reporter, Walt Disney Studios is spending about $24 billion on original streaming content for Disney+, which releases this November. The company’s budget is about $11 billion more than Disney’s next biggest-spending competitor — NBCUniversal reportedly spends $12 billion on streaming content.
IGN notes that Netflix, which is well-known for its breadth of original shows and movies, is only third on the list, which is as follows:
- Disney: $24 billion
- NBCUniversal: $13 billion
- WarnerMedia: $11 billion
- Netflix: $10.5 billion
- Amazon: $8.6 billion
- Apple: $1 billion
As major companies like Disney and WarnerMedia are gearing up to jump into the streaming service range, Netflix is reportedly preparing to scale back on big-budget projects.
According to Complex, the company plans to spend less money on expensive projects like “The Get Down,” “Bright” and “Triple Frontier,” which cost $115 million and currently sits at a 56 percent audience score on Rotten Tomatoes, indicating the movie didn’t resonate well with audiences.
Meanwhile, Disney and Amazon are reportedly willing to spend more per project — ComicBook.com estimates “The Mandalorian,” a “Star Wars” show from Jon Favreau, likely cost $120 million before marketing costs. IGN also notes that Amazon’s upcoming “Lord of the Rings” TV show could cost over $1 billion over its expected five-year run.