Online streaming service Netflix has revealed they will be adding to their in-house productions after the success of such series as Orange Is the New Black.
Speaking during a self-published video of their investor call, Netflix CEO and co-founder Reed Hastings began: "There are so many competitors and everyone is working hard to build the best content. We're seeing growth in the overall internet TV market."
When pressed if there were any plans to purchase an existing film company in order to produce content more easily, chief content officer Ted Sarandos confirmed: "we're building it versus buying it [...] not just in our films, but in several of our series Netflix is the studio and the network."
The subscription service began creating their own material in 2013 with the critically acclaimed drama House of Cards, and have since received Oscar nominations for their first feature film Beasts of No Nation.
In the same interview, the executives referred to their upcoming series The Crown, based on the life of Queen Elizabeth II. "It's being shot in the UK We've previewed some footage of it to the European press, they just loved it," said Sarandos. "It's those kinds of things that we think are massively global, that we can produce on a larger scale than anybody else and that we think we can win the day on."