The majority of content on Netflix will soon be original programming, an executive for the streaming giant has revealed.
The company is one-third of the way to hitting its target of 50% homegrown or fully-owned programming, CFO David Wells has said.
By the end of this year, the streaming pioneer will have 600 hours of original content in its library, which is up from 450 hours in 2015.
As well as adding brand new shows like Stranger Things and Luke Cage, the tally has also been boosted by new seasons of popular shows like House of Cards and Daredevil.
Wells said the company is also okay with boosting the original content line up without every show being a gigantic critical success.
He said: (via Variety) “We don’t necessarily have to have home runs… We can also live with singles, doubles and triples especially commensurate with their cost.”
In more good news for subscribers Wells also appeared to rule out a move into ad-supported subscriptions.
“There’s no immediate plans for an ad-supported product… The Netflix brand stands for no advertising.”
Wells also revealed those subscribers who are disgruntled with the product line up and price hikes are likely to return to Netflix after cancelling. 33-50% of former subscribers return eventually, Wells said.
OPINION: You'd be crazy to cancel Netflix
Do you subscribe to Netflix for the original shows or access to the old classics? Share your thoughts below.
Video: iPhone 7 vs iPhone 7 Plus: What’s the difference?