The future of TV, according to Netflix CEO Reed Hastings

Netflix CEO Reed Hastings laid out an ambitious plan for Netflix’s future in a paper published on the company’s investor relations site that paints Netflix as one of the driving forces behind a transition from linear television to a world of internet-delivered on-demand content.

The paper repeated some key points Hastings has made it the past, but also included a number of noteworthy new insights, including some data points on how Netflix spends its money. Notably, Hastings said that Netflix is now spending over $2 billion a year on the licensing and creation of content. The company is spending another $350 million a year on improving its service and apps, including improvements to the streaming quality and customer service. And it is spending over $450 million per year on marketing in all of its markets around the world.