Netflix is increasing its cash spend with the issue of two new sets of notes totally $2 billion.
The streaming service says it “intends to use the net proceeds from this offering for general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.”
The financing will take its debt pile to around $30 billion.
It comes at a time when Netflix is looking over its shoulder at rivals Apple and Amazon, who are both increasing their spend on content.
Netflix’s global paid membership has now gone past 130 million. Results released last week show that the company gained 7 million net additions, which was higher than its forecast of 5 million and represented a new Q3 record.
