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Netflix Is Carrying More Than $20 Billion of Debt

Netflix Is Carrying More Than $20 Billion of Debt
Despite the undeniable breakaway success of so much of the comapny’s original programming — from Stranger Things to Narcos – it has now emerged that Netflix is fairly deep in the financial hole with debts to the tune of $20 billion. With more than a hint of irony, it turns out that the streaming platform’s commitment to building its programming arsenal is actually the cause of its woes: according to the LA Times, Netflix is “pouring money into expensive prestige projects and expects to spend at least $6 billion in content this year.” And, with the company’s stock up 50% this year and a set goal to “increase the portion of self-produced originals to 50%,” suggestions of a Netflix bubble are starting to appear, with the company itself admitting that it expects “to be free-cash-flow negative for many years.” For the time being, however — with a whole host of new shows and fresh seasons on the immediate horizon — Netflix is still cranking out the goods, and we’re all still watching.