Video: Netflix’s international juggernaut
Netflix announced this week that it will borrow another $2 billion “to fund its enormous appetite for content,” said Todd Spangler in Variety.com. The new spending plan will bring Netflix’s total debt to $10 billion. The move comes less than a week “after Netflix blew past expectations,” adding 7 million new subscribers from July to September, giving it 130 million customers in 190 countries. Earlier this year, Netflix said it would spend more than $8 billion on content in 2018 and create 700 original TV shows and movies. It’s looking for more big winners to replace sunsetting hits such as Orange Is the New Black, which ends this year.
Rivals around the world are growing fearful of Netflix’s dominance, said Sara Fischer in Axios.com. The company is growing faster outside the U.S., and “is poised to consistently make more money abroad than in the U.S.” To counter the threat, media companies in the U.K. and France “are teaming together to create Netflix competitors.” Netflix, however, has the advantage of being able to run its best shows worldwide, turning them into international hits. Still, serving content to so many markets comes with its own risks: In Brazil, a “#DeleteNetflix” campaign erupted earlier this year after left-leaning politicians accused the streaming giant of political bias. ■