Netflix, Disney, Comcast, Google, Warner Bros. Discovery and Paramount are on track to invest a combined $126 billion in content in 2024, according to a new forecast by Ampere Analysis.
The firm’s estimate translates to a record 51% of total content spend, up from 47% in 2020. Ampere anticipates that $40 billion will be allocated specifically towards the companies’ streaming services. Original content has accounted for over $56 billion in investment, or 45% of total spend, since 2022.
“Ongoing investment by major studios and streaming platforms into new programming will continue to be key to keeping audiences engaged and entertained. We can expect that the content landscape will see low level growth in 2024 as production schedules recover from disruptions caused by the pandemic and the writers’ and actors’ union strikes,” Ampere Analysis research manager Peter Ingram said in a statement.
“Looking forward however, while these top six providers will continue to account for the majority of spend, overall growth will plateau as companies look to refocus their output,” Ingram continued. “This will include limiting commissioning volumes and prioritizing strategic investments and profitability to counter the current challenges of the media market.”
Despite recent cutbacks, Disney is expected to remain the largest contributor at 14.4% of global investment in TV and film content across linear TV, streaming and theatrical with a total spend of $35.8 billion – with the company’s full acquisition of Hulu adding $9 billion to the company’s total spend. Following closely behind is Comcast with $24.5 billion, or 9.9% of total spend.
Meanwhile, Google, whose investment in content comes via YouTube and through revenue-sharing arrangements with content creators, will be the third largest contributor to the content landscape with $17.6 billion, or 7.1% of total spend.
Rounding out the remainder are Warner Bros. Discovery with $16.8 billion, or 6.8% of total content spend, Netflix with $16 billion, or 6.4% of total content spend and Paramount with $15.1 billion, or 6.1% of total spend.
Netflix is the top investor in global streaming content with an average annual investment of $14.5 billion in original and acquired programming since the COVID-19 pandemic. That growth is expected to continue with the acquisition of WWE wrestling matches in 2025 and its Christmas Day NFL games. International programming accounts for 52% of Netflix’s spend in 2024 and 40% of Paramount+’s.
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