Netflix"s new 2018 content target: $8 billion

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Netflix just keeps raising the ceiling on its content aspirations. 

The company officially announced that it could spend up to $8 billion on original video in 2018—a cool billion dollars more than it had previously planned. 

Ted Sarandos, head of content at Netflix, recently said publicly that the company could hit the $8 billion mark, but Monday"s quarterly earnings report made it official.

"With $17 billion in content commitments over the next several years and a growing library of owned content ($2.5 billion net book value at the end of the quarter), we remain quite comfortable with our ability to please our members around the world. We’ll spend $7-8 billion on content (on a P&L basis) in 2018," Netflix wrote in its earnings release.

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