Netflix to raise an additional $2 billion to fund original content

Netflix has announced that it will raise an additional $2 billion in debt to go towards future original content. This marks the sixth time in less than four years that the company will raise $1 billion or more through bonds.

In 2018 alone, Netflix has invested an estimated $8 billion into the creation of original content.

In a press release, the streaming giant said the latest $2 billion funding will be used for “general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.”

It’s likely that Netflix is ramping up its original content spending in part as a response to Disney’s currently-unnamed streaming service, which is expected to debut sometime in late 2019. The company is reportedly developing a number of big-budget original series and movies based on Marvel, Star Wars and Pixar properties.

It’s unclear if or when Disney’s service may come to Canada, although Canadian Netflix subscribers won’t be affected when Disney removes its content from the U.S. Netflix catalogue in 2019.

Source: Netflix

The post Netflix to raise an additional $2 billion to fund original content appeared first on MobileSyrup.

from MobileSyrup https://ift.tt/2PVvZA0