Original content burns fierce Netflix will issue bonds to raise $1.6 billion

Netflix

Phoenix Technology News According to the CNBC website Beijing time on October 24 reported that streaming media video service Netflix announced on Monday that it will issue $1.6 billion worth of notes. At present, Netflix is ​​continuing to expand its content budget.

Netflix said that the proceeds from this bill will be used for general commercial purposes, including content acquisition and production. Netflix said that the bill will be targeted at qualified institutional investors, and interest rates and expiration dates need to be negotiated.

The third quarter financial report showed that Netflix added 5.3 million subscribers during the quarter and stressed the promise of long-term production of exclusive, original content on the conference call.

Netflix said in its financial report that it will invest $7 billion to $8 billion in content next year, an increase of $1 billion over the previous forecast of the content budget.