Netflix losses reach $ 20 billion

DESPITE boasting 100 million global subscribers and a stack of award- winning series, Netflix is in big trouble.

The streaming giant is haemorrhaging money at an alarming rate, according to fresh reports about its business strategy, with debts totalling a staggering $ US20 billion.

Its pursuit of more and more paying customers, coupled with spending a small fortune annually on producing new content, is adding up.

The LA Times reported yesterday Netflix had almost doubled its spending this year and expected to splash more than $ US6 billion on its slate of programming in 2017.

The company’s share value is up 50 per cent on last year, but a growing pool of analysts are concerned the Netflix bubble is at risk of bursting.