Netflix Takes on $2 Billion in Debt in Quest to Beat Disney

While WarnerMedia, Apple, and NBCUniversal are all prepping to launch their own streaming services, Netflix executives in their recent Q3 earnings call pointed to a single rival, Disney, as the one to beat in the battle for creating lasting “moments of joy” for streaming subscribers. It’s bound to be a tough fight — Disney birthed “the happiest place on Earth,” after all.

On Monday, Netflix said it would be taking on an additional $2 billion in debt to give them the edge over the entertainment behemoth, and analysts say it is a wise investment.

It’s the second time this year Netflix is taking on that amount in debt, earmarked for production and development, acquisitions, and other capital needs. The company has needed to take on debt as part of the transition from a digital rerun destination into an original content powerhouse, a change that began in 2013 with “House of Cards.
See full article at Indiewire »

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