Netflix plans to raise $2 billion to fund new content
Netflix said that it plans to raise about $2 billion in debt to fund original shows, acquire content and for possible acquisitions. The streaming giant said the debt will be in the form of senior notes denominated in US dollars and euros.
Netflix, which plans to spend more than $8 billion in entertainment programming this year, reported blockbuster third-quarter results last week as heavy investment in original shows lured more customers to its fold.
Besides, recently it was reported that Netflix’s Indian operation drew attention in a surge of international subscribers in the third quarter, but it faces fierce competition and a difficult cultural conundrum to make inroads with the country’s more than one billion TV viewers.
In a few short months, the world leader in video streaming has launched a blockbuster Mumbai-based crime thriller, been sued over comments about a former Indian Prime Minister and seen the future of two of its hit shows threatened by the #MeToo movement in India.
