Netflix has said it expects to reach its peak cash burn in 2019.
Netflix plans to offer about $2 billion in debt to fuel its spending on content and other expenses, the company announced in a statement Tuesday. The stock dipped slightly negative on the news, which comes after another $2 billion offering as recently as October.
Earlier this month, Disney unveiled its plans for its streaming service, Disney+, which will cost $6.99 per month when it launches this fall. That's significantly cheaper than Netflix's most popular plan, which costs $12.99 per month. Disney's announcement sent Netflix's stock sliding the following day.
Netflix said it expects its free cash flow deficit for 2019 to end up around negative $3.5 billion, which was greater than the $3 billion it was previously expecting. The company said the updated figure was due to a change in corporate structure and investments in real estate and infrastructure.
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