Woodward said United boss Jose Mourinho was happy with his current squad but declared
there will be changes in the summer as the Reds look to mount a sustained Premier League title challenge next season.
"Are we happy with the roster at this point?" said Woodward, speaking following the release of United's quarterly figures.
"Yes. I think there's a happiness from the manager at this point, as you can tell in all his recent interviews, in terms of where we are as a squad.
"I think there is always going to be continual improvement. Even if you win everything, you still want to improve the squad, that's the nature and the dynamic of the industry we're in.
"But I think we aren't in a position where we necessarily have to churn a large number of players. As I've guided before, we want to get to a more steady state, and be buying and selling a potentially lower number of players each year.
"I think we're in that kind of environment now, compared to where we were two or three years ago, when perhaps there was a bit more of a churn required from a playing squad perspective.
"We don't guide around player spend. It's a number you can track almost on a deal-by-deal basis, because things are very widely published when they happen, but it isn't something that we guide on.
United's debt now stands at £409.3m, a rise of 27.1 per cent, with the increase being blamed on the pound collapsing in the wake of the Brexit vote. The club's total revenue for the last quarter was £157.9m, an increase of 18 per cent, with an operating profit of £37.6m, up 15.3 per cent on the previous figure.
Despite the absence of Champions League football this season, United brought in £52.5m revenue from broadcasting, with an additional £38.6m coming in from home fixtures.
United are also launching a new MUTV app, which will be available globally - although not in the UK - later this year, in more than 160 countries around the world.
Woodward said: "We're planning to launch an MUTV app, in territories where where the competition and partner rights allow us to do so. The app will be a paid, premium-content product, with pricing ranging from £1.49 to £4.99 a month.
"It will include access to a continuous live stream of Manchester United's 24-hour television channel, access to a continually updated, on-demand library of topics, documentary box-sets, studio shows, recent matches, highlights and classic matches.
"The app cannot go into the UK, because of the deed of licence restrictions with the Premier League. So it's not in the UK, and it's not in many countries worldwide where we have sponsorship deals in existence with partners who can utilise exclusive content within those territories.
"But it is still going to 160 plus countries around the world, so I think the way to look at this is of course we believe the mobile and the content side of this business will grow over the years to come."
United's 0-0 draw with Liverpool at Anfield back in October attracted Sky's biggest UK TV audience for three years, according to Woodward, while the return fixture at Old Trafford was the most-watched Premier League fixture in the US.
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