Netflix bets on online streaming

Video rental and streaming service Netflix paid about $115 million in its most recent quarter to acquire new content for its online streaming video library after its quarterly profit jumped by about 27 percent year-over-year last quarter.

The $115 million payout this quarter was more than ten times greater than the $10 million it paid in the same quarter last year.

Netflix also paid out $66 million last quarter to acquire additional content for online streaming. About one fifth of Netflix’s operating revenue last quarter was used to acquire new streaming content.

Netflix bets on online streaming, shells out $115M for content | VentureBeat