With the number of subscribers to the streaming service surpassing 62 million, Netflix's chief content officer Ted Sarandos all but scoffed at the notion that the company is spending too much money on original content. Shows such as the political thriller House of Cards and the dark comedy Orange Is the New Black are a major reason people all over the world subscribe to Netflix and retain the service, he said in an investor conference call Wednesday.
"What we're seeing is the dollars invested in our original programming are more efficient in that for every dollar spent, we get more bang for the buck in terms of hours viewed," Sarandos said.
21:52 Netflix nears 94 million subscribers 10 years after streaming launch17
23:37 Here’s Why Netflix’s Share Price Just Hit a New All-Time High3
21:45 Netflix posts its biggest-ever quarterly subscriber growth, stock surges 8%14
22:33 Allergan to pay $15 million over failing to disclose merger talks19