200 million people around the world have signed up for Netflix as of the end of 2020 and the streaming service couldn’t be happier!
With that many people signed in, it means that Netflix can self finance its own project without having to borrow billions.
Shares in Netflix rose almost 13% in extended trading which validated the companies decision to go into debt in order to take on Hollywood!
NETFLIX says it should break even in 2021 after borrowing upwards of $15 billion in less than a decade.
Netflix said it will explore returning excess cash to shareholders via share buybacks. It plans to maintain $10 billion to $15 billion in gross debt.
From October to December of 2020, Netflix signed up 8.5 million new streaming customers.