Netflix to Raise $1.1 Billion for Content Spending

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Netflix today announced that it intends to raise up to €1 billion through offering senior notes outside the US.

The company says it intends to “use the net proceeds from this offering for general corporate purposes, which may include content acquisitions, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.”

Netflix has been aggressively creating and promoting original content this past year, which has not been cheap; the company plans to spend more than $1 billion in 2017 just on marketing content. On content overall, Netflix could spend upward of $10 billion.

The video streaming service has 94 million members across 190 countries who consume more than 125 million hours of  shows and movies per day.

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