As per a report, Netflix is running short of new content in the first quarter of this year, when compared to last year at the same time. This is due to the COVID-19 breakout last year, which forced many studios to cancel the filming. Thus, Q1 of 2021 has only 159 new titles from Netflix in the US, compared to last year’s 180, which is a 12% decline.
Netflix Running Short of Content in Q1 2021
Being the largest OTT today, Netflix ensures that all of its content is approaching on time to its platform to make sure viewers aren’t leaving it. Any disturbances in the timelines can seriously affect the platform, as the industry is now populated with several new players.
And to keep up with the competition, Netflix, just as others, makes the content advance and readies it for release as per timeline. But due to the COVID-19 breakout last year, most of the film studios around the world were forced to pause productions, which eventually reduced the number of titles coming to Netflix this year.
As per What’s on Netflix, last year’s restrictions have affected Netflix’s content coming this year, which is now reportedly having only 159 original titles for the Q1 of 2021, versus 180 new titles in Q1 2020. The shortage of 12% may seem less, but to Netflix, it’s significant. And with Netflix spending a huge amount on few titles like Knives Out, it may be short budgeting for others.
With the growing number of players in the hot industry, every OTT is throwing cash at whatever content attracts viewers. We’ve seen Netflix onboarding Keanu Reeves with this anime series coming up, which aims to take on Disney’s Marvel franchise. Also, Netflix announced to make 40 new anime series this year and pledged to spend about $19 billion on content.