Magazine article Screen International

Netflix to Raise $1.6Bn for Content War Chest

Magazine article Screen International

Netflix to Raise $1.6Bn for Content War Chest

Article excerpt

Streaming service plans to release 80 films in 2018.

Netflix said on Monday it will raise $1.6bn through a senior notes offering as it prepares to release 80 films in 2018.

The streaming platform said it would use the funds for “general corporate purposes” that may include content acquisitions, production and development, potential acquisitions and strategic transactions.

Speaking to investors recently, chief content officer Ted Sarandos said Netflix was targeting 80 films next year. The company has made clear its ambitions in original content for some years as it moves away from the earlier model that leaned heavily on licensing.

Another factor in the aggressive content push is that Netflix is keen to steal a march on its closest streaming rivals. …

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