on air now
up next
Up Next
Magic Music Mix
on air now
up next
Up Next
Magic Music Mix
 

Netflix to raise $1 Billion to gear up for original content

Netflix logo


Since quarantine has begun Netflix has doubled on its original projections of new customers who have been binge watching series such as Money Heist and Tiger King.

On Wednesday the streaming service said that they plan to raise $1 billion in debt to fund its original shows which requires a lot of content.

Netflix have predicted that the second half of the year could be weaker for them if the quarantine period has been lifted but most programming for this year and next year have already been filmed and are being finished in post-production which is over 200 projects.

The streaming service has gained 15.8 million subscribers from January through March whereas they had predicted it would be 7 million during this period. Netflix has a global total of 182.9 million paying customers as it stands.