Netflix is carrying $20 billion in debt. Can it keep borrowing its way to success?
The digital streaming giant plans to continue burning cash to fuel original productions and subscriber growth. When Netflix was founded, the Internet was young, DVDs were popular and no one considered watching a movie streamed online. Twenty years later, Netflix’s transformation from an underdog DVD-by-mail service to Hollywood powerhouse — one that has redefined how TV and movies are produced and consumed — has been remarkable.