Report: Netflix Is Outspending Everyone Else for Content in 2020

The entertainment industry will spend more money than ever on content production in 2020 despite the COVID-19 shutdowns in the spring and summer. The production surge is led by digital-streaming services, and nobody is spending more on new content than Netflix (NASDAQ: NFLX). That's the big takeaway from an Ampere Analysis research report commissioned by the Financial Times.

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Ampere's report estimates that Netflix will spend roughly $13.6 billion on production and licensing of films and serial shows this year, a $3 billion increase from 2019. ViacomCBS (NASDAQ: VIAC) should land in second place with a $13.5 billion budget, followed by Walt Disney (NYSE: DIS) at $11 billion, and Comcast (NASDAQ: CMCSA) subsidiary NBCUniversal at $9.5 billion. These figures exclude licenses to cover sporting events.

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Source Fool.com