Netflix will borrow another billion dollars
Netflix streaming service announced another borrowing. This time we are talking about the amount of one billion dollars, which the company intends to use for content production, acquisition and other "general purposes". Note that increasing the leverage is a common practice for the streamer: in October last year alone, Netflix raised an additional $ 2 billion by selling bonds. Total debt exceeded $ 14 billion, according to the company's April 2020 financials. Netflix also announced a salary increase for most Board members. In particular, CEO Reed Hastings will receive substantial salary increases: his income will grow from $ 36.08 million in 2018 to 38. $ 58 million this year. Netflix's head of content, Ted Sarandos, also saw an increase of $ 34.67 million. All streaming services recorded impressive subscriber growth rates due to the de facto curtailment of cinematic distribution during the coronavirus outbreak. The Topic of Article: Netflix will borrow another billion dollars. |
