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Netflix’s Ted Sarandos Is Feeling ‘Better and Better’ About $17 Billion Content Budget: ‘We’re Spending at About the Right Level’

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Jennifer Maas TV Business Writer Following a quarter that saw Netflix release several of its most popular titles of all time — per the streamer’s self-reported internal measurements — and subscriber growth after two straight quarters of losses, co-CEO and chief content officer Ted Sarandos is feeling “better and better” about the company’s $17 billion content spend budget. “Both the scope and scale, as well as the range and cadence of hits is improving,” Sarandos said during Netflix’s prerecorded Q3 earnings interview with his fellow execs, which was released Tuesday afternoon following the announcement of the third-quarter results. “So I feel better and better about that $17 billion of content spend because what we have to do is be better and better at getting more impact per billion dollar spent than anyone else.

And that’s how we’re focusing on it. So I think we’re spending at about the right level. And as we re-accelerate revenue, we’ll revisit that number, of course.

But we’re a pretty disciplined bunch about that.” Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more. On Tuesday, the streaming giant reported 2.41 million net new paid subscribers in Q3, including a gain of 100,000 in the U.S./Canada region, to stand at 223.1 million worldwide as of the end of September.

That handily topped Netflix’s previous forecast of a 1 million pickup for the period. Netflix specifically called out these Q3 titles as “some of our most watched series and films of all time”: Ryan Murphy limited series “Dahmer: Monster: The Jeffrey Dahmer Story,” the second half of “Stranger Things” Season 4, Korean series “Extraordinary Attorney Woo,” and movies “The Gray Man” and

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