Netflix plans to borrow another $2 billion to help pay for the exclusive series and movies that its management credits for helping its video streaming service reel in millions of new subscribers during the past five years. The $2 billion that Netflix plans to raise in a bond offering will be lopped onto it existing debt of $11.8 billion. That includes another $1.9 billion debt offering that Netflix completed earlier this year. Netflix has gained nearly 100 million subscribers since September 2013, including 7 million in the past quarter. The company recently predicted it will add another 9.4 million subscribers by the end of this year.

Source: ABC News October 22, 2018 16:41 UTC