Net­flix losses reach $ 20 bil­lion

Townsville Bulletin - - NEWS -

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.

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