Netflix has been extremely successful over the last several years, raking in billions in revenue and even expanding into creating original content. This content is quickly becoming some of the most popular programing available. In order to continue their spending and growth in this area, however, they need to increase their overall subscriber base.
To do this, Netflix has announced that they are increasing their marketing budget by 54% in 2018, which will bring their total spend to more than $2 billion. This is a massive increase, and it comes at a time when many other similar industries are actually cutting back on their marketing budgets.
Since Netflix doesn’t run ads and they make all their money on the monthly subscribers, keeping their numbers up is extremely important. It is quite likely that the bulk of this budget will be directed toward digital.
It is nice to see a company that really knows the value of an investment in marketing today, which will undoubtedly bring them positive results for years to come.