Last year, Netflix shocked audiences by announcing a $6 billion budget for producing and acquiring content. Now, there are reports that Netflix has increased their budget by $1 billion, making it a whopping $7 billion now.
Netflix’s programming model is undergoing a change. It is now looking at exclusive content prepared by big names that are affiliated with traditional TV. It recently announced that Shonda Rhimes who made such interesting content like ‘How to get away with murder’ and ‘Scandal’ will be producing exclusive content for Netflix.