Netflix Inc. the huge US-based entertainment company provides streaming media, video on demand and now produces films and TV is selling bonds to help expand its content offering as the company comes under pressure from media giants including Walt Disney, AT&T and Apple.
The streaming company is selling
$2bn of bonds in a two-part offering denominated in dollars and euros, according to a statement on Tuesday. The proceeds will be used for general corporate purposes that may include investing in content, production and development, the statement said.
Netflix is coming off a quarter in which its forecast for new subscribers fell short of analysts’ estimates.
It has been raising prices in some of its largest territories, trying to shift toward profitability when the competition among other streaming services is mounting.
- Bloomberg
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