As it looks to return to subscriber growth, Netflix (Nasdaq: NFLX) expects to distribute five original TV series to its customers by mid-2013, chief content officer Ted Sarandos said at the NATPE conference in Miami Tuesday.
Netflix lost more than 800,000 subscribers during the third quarter. Contributing to the customer defections were a subscription price increase and loss of movies that it had licensed from Starz. Sarandos said the company had no choice but to develop original programming since it is unable to license content from HBO, Showtime and Starz. "In a perfect world, we would do nothing but license their stuff a year or two after it airs. But they have a different strategy and that's fine," Sarandos said during a Q&A with former NBCUniversal Entertainment chairman Jeff Gaspin, according to Broadcasting & Cable.
Netflix, which is popular with some consumers who have cut the cord on cable and satellite TV subscriptions, plans to premiere original series House of Cards, starring Kevin Spacey, and Lilyhammer, starring Steven Van Zandt, next month. It will also revive the cancelled Twentieth Century Fox series Arrested Development, and the company plans to produce two additional original series.
"By mid-2013, we should have five very high profile original shows on Netflix," Sarandos said.
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