April 18, 2018 / 5:35 PM / 7 months ago

Netflix plans $1 billion European investment drive - FT

The Netflix logo is shown above their booth at Comic Con International in San Diego, California, U.S., July 21, 2017. REUTERS/Mike Blake

(Reuters) - Netflix Inc will raise its investment in content across Europe and plans to spend about $1 billion on original productions this year, the Financial Times reported on Wednesday, citing people briefed on the plans.

The revised budget will be more than double that of last year, the report here said.

Reporting by Sonam Rai in Bengaluru; Editing by Arun Koyyur

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