Netflix will invest $20 billion in content, previously Warner Bros. let Paramount.

Netflix is increasing its investment in its own content, having previously dropped out of the bidding war with Paramount for Warner Bros. Netflix will invest around $20 billion in high-quality movies and series this year, expanding its entertainment offerings, and also plans to resume its stock buyback program. The company had signed a deal to acquire Warner's film studio and HBO Max for $72 billion. Netflix's co-CEO stated in a statement, "The deal is icing on the cake when the price is right, but not at any cost." Netflix's business is healthy, strong, and achieving organic growth driven by our slate and world-class streaming service."