Netflix CEO Ted Sarandos reveals OTT platform invested over $135 billion in content over the past decade; unveils ‘Netflix Effect’ initiative has launched a new microsite titled “Netflix Effect,” offering a detailed look at the economic, cultural and social impact of its films and series across the world. The initiative was announced by Ted Sarandos through a blog post outlining the company’s global growth strategy and long-term investment in local storytelling. According to the report, Netflix has invested more than $135 billion in films and series over the last decade, contributing over $325 billion to the global economy. The company also stated that its productions have created more than 425,000 jobs worldwide during this period. Sarandos reflected on Netflix’s international expansion, noting that the company moved from operating in around 60 countries to over 190 markets in a single day nearly ten years ago. He wrote that while Netflix was expanding globally, the company believed that “the best way to be global was to start off intensely local. ”The report highlights how Netflix productions are created in more than 4,500 cities and towns across over 50 countries. It also points to the wider economic ripple effects of productions, including employment generation, support for local businesses and tourism activity. Among the examples mentioned was The Lincoln Lawyer, which reportedly contributed more than $425 million to California’s economy through its four seasons and ... #Ted_Sarandos #CEO_Ted #reveals_OTT #OTT_platform #Netflix_CEO #Netflix_Effect’ #Effect’_initiative #Sarandos_reveals #microsite_titled #social_impact
