This is how much debt Netflix is actually in
23 October 2018, 12:09 | Updated: 23 October 2018, 16:49
Netflix has added to its growing pile of debt – could this be the end? Probably not.
Netflix have been busy trying to produce new shows, secure the rights for more content, and spread through 190 countries. But as a result they've racked up billions in debt.
Netflix plan to raise a further $2 billion in debt, adding to its other long-term liabilities totalling more than $30 billion, The Guardian reports.
The site reported $11.8 billion in total debt in September, plus another $18.6 billion in payments for content. Yep, Netflix owe a lot of money.
But don't worry, Netflix isn't going anywhere – phew!
Even more people have been bitten by the Netflix bug, with the TV giant claiming to have added just under 7 million new subscribers in the three months ending in September. Streaming revenues also increased by 36% year-on-year.
And as of October 2018, Netflix has a whopping 137 million total subscribers worldwide, including 58.46 million in the US.
Believe it or not, Netflix's initial business included DVD sales and rental. Does anyone actually remember Blockbuster?
In 2007, Netflix cleverly expanded its business and introduced streaming media. The US company expanded internationally three years later. It wasn't until 2012 that Netflix decided to start making their own content, debuting its first series, Lilyhammer.