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Netflix has plans to take over $ 2 billion in new debt by offering unsecured bank notes. The streaming platform looks for the content of this site for content acquisition, production and development, as well as capital expenditures. This may further include investments, working capital and potential acquisitions and strategic transactions.
The move comes as Netflix has been published in US $ 8 trillion of content (in P & L basis) in 2018. This will span a variety of formats such as series, movies, unscripted , documentaries, comedy specials and non-English language content to further grow its global membership base.
According to Netflix's third quarter 2018 letter to shareholders, its slate of original programming is helping to increase revenue growth by 36% year over year. This includes a global membership surpassing US $ 130 million paid, with US $ 137 million overall. It saw "greater-than-expected" acquisition globally, with a steady growth across Asia.
In addition, Netflix also plans to "reclassify" certain personnel costs from general and administrative (G & A) to under content and marketing. It would also be the same from technology and development to other cost of revenues. According to Netflix, the change reflects the "ongoing evolution" of its business to include self-production of content.
The streaming giant explained that a growing number of employees are becoming involved in the development of the platform.
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