Netflix ‘has just begun’ with local unscripted, says CEO Ted Sarandos

Netflix will redouble its investment in original unscripted content in local languages, its co-CEO Ted Sarandos revealed.

Ted Sarandos

“We’re just getting started with that,” he said during his participation at the UBS Global TMT Conference 2023 in New York, speaking of the streamer’s non-English entertainment offering as one of the key strategic areas for its long-term growth.

These statements come days after Brandon Riegg revealed at C21’s Content London the platform is giving priority to gameshow and shiny-floor formats, and the announcement of the adaptation of Love is Blind in Argentina.

Two other areas where Netflix finds opportunities are diversifying its income through advertising “offering low yet highly competitive prices,” and deepening its connection with fans through marketing, consumer products and live experiences.

Sarandos also acknowledged that licensing more films and series from third parties is giving them results.

For Netflix, the success of acquired titles such as Suits, Breaking Bad or The Walking Dead among its subscribers has a great impact not only on the business but for creators and their rivals, thus creating a “virtuous circle that benefits everyone.”

“It is the most natural state of the business. The unnatural state was forced vertical integration,” he said.

Therefore, at a time when most of its traditional rivals are carrying out profound restructuring and drastic savings measures in search of profitability, the co-CEO also provided some figures to argue that Netflix does find D2C a profitable business.

“They are trying to find profitability, they are trying to navigate their linear businesses, their traditional businesses… We only had to navigate the DVD and streaming business,” he said.

“As you can see, streaming is good business,” he added.