Netflix plans to spend around $18 billion on content in 2025

Netflix has announced plans to allocate roughly $18 billion in cash for content in 2025. This information was disclosed by their CFO, Spencer Neumann, at the 2025 Morgan Stanley Tech, Media & Telecom Conference.

This represents an 11% increase from the $16.2 billion spent in 2024, and Neumann mentioned they are “not anywhere near a ceiling,” suggesting the possibility of even more spending in the future.

The company is heavily investing in growth, focusing on originals, live events, and global expansion, supported by their 301.6 million subscribers as of late 2024. So, indeed, $18 billion is the actual figure for this year. Learn more

Sources

The $18 billion figure for Netflix's 2025 content spending comes from statements made by Netflix CFO Spencer Neumann during the Morgan Stanley Technology, Media & Telecom Conference on March 3, 2025. This was reported by multiple outlets, including:

• Variety: Covered Neumann’s comments about the $18 billion cash spend and the 11% increase from 2024’s $16.2 billion, noting no ceiling on future investment.

• The Hollywood Reporter: Confirmed the same $18 billion figure and tied it to Netflix’s strategy for originals and live programming.

• Deadline: Also cited Neumann’s conference remarks, aligning the spend with Netflix’s 301.6 million subscriber base as of Q4 2024.

  
  

These reports are consistent across the board, based on Neumann’s direct statements at the event. For the subscriber count, Netflix’s Q4 2024 earnings release (January 2025) officially lists 301.6 million global subscribers.

You can dig into the full earnings details on Netflix’s investor relations site if you want the raw data. That’s where the numbers line up.