Netflix issues $2bn in bonds to fund original content
Netflix plans to issue $2bn (£1.5bn) in bonds in a bid to fund its drive towards producing more original content, the company announced today.
The streaming service will use the proceeds of the dollar and euro dominated junk bonds for general corporate purposes including content acquisitions and production and development.
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Netflix said it is continuing its move to producing original films and TV shows rather than licensing other network's films and tv shows as it announced its quarterly financial results last week.
Netflix reported a better-than-expected third quarter as almost 7m new customers signed up to the website, which was 2m more than anticipated.
The company said its paid membership rose to 137m, driven mainly by a large increase in non-US subscribers.
Shares soared 18 per cent on the news that the company had reported revenues of $4bn (£3bn) between July and September this year.
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