Netflix says money raised in the debt offering could be used for content acquisition, production and 'strategic transactions.'
, as more people are looking for ways to stay entertained. From January to March, Netflix added 15.8 million subscribers, more than double what Wall Street had expected.Netflix said it has shot most of its 2020 slate and popular shows such as the fourth season of “The Crown” will be released on schedule.
Ted Sarandos, Netflix’s chief content officer, also said in an earnings presentation on Tuesday that Netflix is continuing production in Ireland and South Korea.“The impact on us is less cash spending this year as some content projects are pushed out,” Netflix said in a letter to shareholders on Tuesday. “We are working hard to complete the content we know our members want, and we’re complementing this effort with additional licensed films and series.
“Our financing strategy remains unchanged — our current plan is to continue to use debt to finance our investment needs,” the company said.
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