Netflix booming in new markets

in-house and avoiding the markups imposed by rival studios. But spending is still growing as the company expands production in areas like film, unscripted series and kids programming.

Total streaming content obligations grew to US$17.9 billion in the first quarter, up from US$17.7 billion three months earlier, and that doesn’t account for the ballooning budget to market shows.

Netflix said Monday it now makes about as many unscripted shows as any cable network. The company already makes more movies than any studio, with about 80 on tap for all of 2018, and more than one standup special a week.

In February, producer Ryan Murphy agreed to leave 21st Century Fox Inc., where he made American Horror Story, for a deal at Netflix worth a reported US$300 million. Earlier, the company signed Scandal producer Shonda Rhimes, who left her longtime home at Walt Disney Co.’s ABC to make shows exclusively for Netflix.

In the last quarter, the company released the documentary miniseries Wild, Wild Country, the second season of the Marvel comic series Jessica Jones and the horror film The Cloverfield Paradox, two of about 700 titles the company planned this year.

While Netflix reports a profit, its cash flow last quarter was a negative US$287 million, and investors will be paying close attention to whether the company plans to take on more debt, as it has every year since the company started releasing original programming several years ago.

Netflix has allayed concerns by continuing to add subscribers. Customers have also demonstrated they’re willing to pay more for Netflix.