As effortless as they may be for you, those weekend Netflix binges don’t come cheap for the Los Gatos, California-based streaming company. To shore up some cash for new content and other expenses, Netflix is proposing an $800 million debt offering.
Last week, Netflix beat expectations on revenue and subscriber growth in its earnings report for the third quarter. Riding high on the success of original shows like Narcos and Stranger Things, Netflix added 3.57 million new subscribers last quarter. The company expects to add 1,000 hours of new programming next year. JPT