Once again Netflix is taking on more debt so as to fuel more content spending with plans to issue $2 billion in unsecured bonds – marking the seventh time in four years the streamer is raising $1 billion or more through debt.
As of March 31st Netflix reported $10.3 billion in long-term debt on its balance sheet, this would increase that to $12.3 billion. To date, Netflix hasn’t paid down any significant amount of the long-term debt it has accrued. Netflix also has billions in off-balance-sheet content-spending obligations – much due within the next five years.
These numbers are still under the company’s annual content budget spend though which is expected to come in at an astonishing $15 billion in 2019.