Disney leads record content spending surge in 2024

Big six to spend $126 billion on TV and film

The entertainment industry is set for another landmark year. Despite ongoing challenges, the world’s top six content powerhouses are projected to boost their spending by an impressive 9% in 2024. This significant investment will push the total to an unprecedented $126 billion.

Disney’s hefty contribution

Among these giants, Disney stands out as the leader, poised to inject $35.8 billion into TV and film content—up a remarkable 27% from $28.3 billion in 2023. One of the significant catalysts for this surge is Disney’s complete acquisition of Hulu, adding an estimated $9 billion to the company’s expenditure. The increased budget positions Disney to maintain its dominant role, accounting for 14% of global investment in TV and film content in 2024.

Comcast, Google, and others follow suit

Close behind Disney is Comcast/NBCUniversal, with an expected spend of $24.5 billion. They are followed by Google at $17.6 billion, Warner Bros. Discovery at $16.8 billion, Netflix at $16.0 billion, and Paramount Global at $15.1 billion. Together, these companies will control 51% of the total content spending landscape, marking an increase from 47% in 2020.

Streaming wars: The financial battlefield

Streaming services are pivotal in this financial landscape. Collectively, these companies are allocating $40 billion to their subscription platforms, including Disney+, Peacock, Max, and Paramount+. This immense investment is partly driven by the need to adjust amid production shutdowns, encouraging these services to lean towards more global strategies.

Netflix has been a major player, especially in the realm of global streaming content. The service has averaged an annual spending of $14.5 billion on original and acquired programs since the pandemic hit. Over the next few years, expect further escalation as Netflix eyes sports rights, including NFL games and WWE’s “Monday Night Raw.” For more on Netflix’s future releases, visit Netflix upcoming releases.

The global shift in content production

International programs are becoming increasingly crucial. In 2024, non-U.S.-originating programming will make up 52% of Netflix’s spend and 40% of Paramount+’s. These programs tend to be cheaper to produce and are effective in attracting new and niche audiences to subscribe to a platform.

Original content: Still king

Investment in original content remains a top priority for these providers. Since 2022, they have collectively spent over $56 billion on creating new original content, representing 45% of their total expenditure. This trend is expected to continue as the industry recovers from disruptions caused by various external factors.

Production trends: A steady horizon

Peter Ingram, a senior analyst, forecasts that while the content landscape will experience modest growth in 2024, the overall trend will plateau. Companies are likely to adopt a more focused approach, limiting the volume of new commissions and prioritizing strategic investments to counteract current market challenges.

Google’s unique approach

Interestingly, Google diverges somewhat from the traditional content model. Its significant contribution comes through YouTube, primarily via revenue-sharing arrangements with content creators. YouTube is also expanding its global footprint through partnerships and deals like the NFL’s Sunday Ticket.

Industry at a glance

The projected $126 billion in content spending signals a vibrant yet competitive future for the entertainment industry. These six titans are setting the stage for an exciting year in TV and film, with colossal investments promising rich and diverse content.

Stay tuned for more updates on the ever-evolving world of entertainment. Share this article on social media to keep your circle informed, and follow our platform for the latest insights and trends in TV and film.