Netflix announces its plan to collect $2 billion for new projects

Netflix announced its plan to re-enter the debt market to raise the amount of $2 billion in order to produce new private and competing content, in the light of growing competition between them and other visual service delivery companies such as Warnermedia, Disney and others that have moved to distribute their products themselves without relying on partnership With Netflix.

The company said in its announcement on the investor network that the amount desired in the Friday will be to manufacture new visual content in addition to the investment in acquisition, production and development in the line of content displayed, and also use in the financial benefits arising from the purchase of assets or investment of funds within the plans and strategic changes, as the company explained that its collection of money would be in financial notes that are similar to loans that are not guaranteed in the currency of dollar or euro.

This is the sixth time that the company has resorted to borrowing to finance its investment plans, noting that in the midst of announcing its third quarter earnings for the current year, and explaining its borrowing in this way stems from the company’s need for continuous investment in the production of its own content, to keep Competition with companies offering similar services, both current and new competitors, who expect to increase their number in the coming years.

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