Netflix has 44 million subscribers in 41 countries viewing its streaming programs around the world. The 2014 year holds very ambitious plans for Netflix to spend close to $3 billion on content, which is why the company is raising additional debt, according to gigaom.com late Tuesday.
Good news for Netflix subscribers looking to burn through more movies and TV shows: The plan for $3 billion of spending on content comes from its 2013 Annual Report released this week. Netflix will also spend around $6.2 billion on content over the next 36 months.
The company intends to finance some of these expenditures through a $400 million debt raise it officially announced Tuesday.
The new debt offering, which comes in the form of convertible notes due to be paid back by 2024, will also be used to finance a major expansion into continental Europe. Germany and France are the most likely countries on the continent to have exposure to Netflix next.
Telephone surveys commissioned by the Media Technology Monitor with 4,009 anglophone Canadians between Oct. 7 to Dec. 1 found that 29 per cent of the respondents said they were Netflix subscribers. That was up nearly 40 per cent compared to MTM survey results from 2012. Based on the latest polling data, MTM estimates there are 5.8 million Canadians using Netflix to stream content.
Advertising is on a large scale which is stated in its long term view business plan document: ‘We’ll spend in 2014 over $500M in marketing to attract people around the world to try Netflix, and to reinforce with our members why Netflix is worthy. Our extensive exclusive content is key, as is the ability for members to have control over their viewing experience.’
There is $400 million planned for technology development in 2014.
Even before the second season becomes available to viewers in February, producers of the web-streaming series ‘House of Cards’ have completed a deal with Netflix for a third season of 13 episodes.
The drama, which put Netflix on the map as a distributor of original programming with its critical praise and multiple award nominations and wins for Robin Wright at the Golden Globe awards and Kevin Spacey’s Sag award nomination, has never depended on accumulating audiences — mainly because Netflix has never offered information about how many people actually watch its shows.
The series stars two time Oscar winner, Kevin Spacey, as a corrupt congressman trying to scheme his way into the White House. Talks with Media Rights Capital, the independent studio that owns the show, had been going on for the last few months.
Ted Sarandos, the chief content officer for Netflix, had previously stated that he believed the show could extend for several more seasons.
To view more information about Netflix please drop down to the Author’s suggestions and the video atop this article on Netflix and House of Cards in its unique package of immediate availability of all 13 episodes.