Source: STEPHANE DE SAKUTIN / Getty
According to the LA Times, Netflix has accumulated around $20.54 billion in long and short term debt.
The streaming company has a massive 104 million subscribers, which is 25% more than they had last year. They also received 91 Emmy Award Nominations this year for their 50+ original shows. However, the production of such shows are what is putting Netflix in the hole.
They are expected to spend around $6 billion in production this year. Even though Netflix has a lot of very successful shows, they say they expect “to be free-cash-flow negative for many years,” meaning it will continue bleeding cash for the foreseeable future.
We need our Netflix and Chill, so do what you have to do to stay a float Netflix, except raise your monthly fee.
