Netflix Hopes to Raise $2 Billion For New Content

Today Netflix announced plans to raise $2 billion to spend on new content by selling bonds. These bonds will be sold to qualified institutional buyers and sold in mostly Euros and U.S. dollars.

According to Netflix, the debt raised will be used for “general corporate purposes,” including content production, acquisition, and development. This all comes as it was recently reported that Netflix in the 3rd quarter of 2018 released 676 hours of original programming. This should be no surprise as in months like September over half of all new programming on Netflix was Netflix Originals.

This included new seasons of “Orange Is the New Black,” “Marvel’s Iron Fist” and “Bojack Horseman,” along with controversial drama “Insatiable” and Cary Fukunaga-directed psychological thriller “Maniac,” starring Emma Stone and Jonah Hill. It also included Jerry Seinfeld’s “Comedians in Cars Getting Coffee,” “Chef’s Table” and “Anne With an E,” as well as “Ultraviolet,” “Undercover Law,” “Take My Brother Away,” “Sacred Games,” “Sugar Rush,” “Cocaine Coast,” “On Children,” “The Epic Tales of Captain Underpants,” stand-up specials “Jim Jefferies: This is Me Now” and “Iliza Shlesinger: Elder Millennial.”

Source: Reuters

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