Netflix, one of the biggest streaming platform all across the globe has decided to 1 billion dollars to fund original content. Most of the businesses are running low because of coronavirus pandemic situation around the world. Not the same can be said for streaming networks like Netflix, Prime Video, CW streaming and other networks.
As the traffic on the site has been increasing form past few weeks urging population stuck in lockdown to binge-watch, Netflix plans to use some of the cash to acquire content and for possible acquisitions, positioning itself as major U.S. studios halt productions and delay film releases due to the coronavirus-led lockdown.
Most of the projects which were earlier paused due to the spread of infection are now being resumed. Most programming for 2020, and much of 2021, has already been filmed and is being finished remotely in post-production, Chief Content Officer Ted Sarandos said on Tuesday, adding that the company was working on over 200 such projects.
Netflix, which has about $15 billion in debt, last raised money in October 2019 through a $2 billion offering of senior notes. Some of the most trending shows right now streaming on Netflix are documentary miniseries “Tiger King,” dating show “Love is Blind” and Spanish drama “Money Heist.”
