Every day, there’s a new major announcement about a huge project on a streaming service. Whether it’s from Netflix, Apple, Amazon, Disney, or any number of other studios with streaming platforms, Hollywood is eagerly snatching up each and every major project that comes together. And as you might expect, those costs begin to reach astronomical levels, which is exactly what’s expected to happen in 2021.
According to a report from THR, Consumer Technology Association projections put the total spending on streaming programming at $112 billion in 2021. That’s an increase of 11% over last year and a 31% increase over 2019. Yes, that’s just silly money.
So, where is it all going? Well, there hasn’t been a really massive announcement regarding one project, in particular. The biggest streaming spend for Netflix is on the upcoming Russo Brothers action film, “The Gray Man,” which is expected to cost $200 million. But when you add that film together with the millions spent on new seasons of TV shows, new films being bought at festivals, original productions, and the sheer number of programs and films being released this year, it all adds up. Hell, Netflix just excitedly announced that the platform will have a brand-new major film released each week for all of 2021. That’s more than 50 films. And let’s not forget that Disney/Hulu is spending a ton on exclusive FX programming on Hulu.
The real question now is whether or not this will keep growing? In a world where there is already entirely too much “content” for the average person to enjoy, what is the saturation point? You have to assume it’s coming soon, right? At some point, there is going to be a year where a ridiculous amount of money is spent and one of the major streaming services collapses under the massive debt. Maybe it’s not Netflix. It’s probably not Disney, Apple, or Amazon. But how long can Peacock, HBO Max, or other streamers last in this sort of cutthroat Streaming Wars arms race?
Well, we’ll just have to sit back and enjoy. And if you’re a fan of what is being made by these streaming companies, you should be excited by all the new content coming over the next couple of years. Because there sure is a lot of it.