Netflix Expands Content Plans
CBJ — Online streaming giant Netflix wants to raise about $2 billion as it invests heavily in original shows and acquiring content to fend off intensifying competition.
Back in April the company said it wanted to raise $1.5 billion in debt, after raising $1.6 billion in October last year, bringing the cumulative total to about $5 billion.
Netflix expects to fund content acquisition through the high-yield bond market. The company is projected to spend about $9 billion on content this year, based on third-quarter results.
The new $2 billion debt will be in the form of senior notes denominated in U.S. dollars and euros.