Netflix is accelerating its push into original content after raising a further $1.6bn from investors to fund the production of new shows and acquisitions.
The video streaming pioneer is keen to open up the gap between itself and its rivals by investing $8bn on content in 2018 alone, during which it will release no less than 80 films.
To finance this largesse Netflix will issue bonds to investors, paying out an as yet unspecified rate of interest, having already raised over $3bn in this way over the past three years.
Faced with these enormous capital outflows Netflix was forced to raise its subscription fees in the UK and US for the first time in two years; with a standard plan now costing £7.99 and $10.99 respectively.
Netflix has come under increasing pressure to differentiate its offer in the face of competing services such as Hulu, Amazon and Disney which it has thus far seen off through original content such as Orange is the New Black, Stranger Things and House of Cards.
Despite its spendthrift ways Netflix’s share price has soared this year after subscriber numbers soared to more than 109 million globally, a rise of 15.5 m this year alone.