Netflix seeks to raise $1 Billion to fund original content

Apr 23, 2020 17:15 IST

The Covid-19 pandemic doesn't seem to be getting in the way of Netflix who wants to bring you more original content. According to a Reuters report, the streaming giant seeks to raise $1 Billion to produce new films and TV series. The billion-dollar cash grab comes at a time when traditional movie studios are suspending productions globally due to the novel coronavirus outbreak. To recall, Netflix had the best quarter in its history as it added 15.8 million subscribers, more than double the 7.2 million that was expected, which is essentially a growth of more than 22% year over year.