Netflix is going deeper into debt this week, as it has announced yet another tap into investing so that it can produce even more original content.
The move, apparently aimed at "funding for a broad spread of activities," has brought some negativity to Netflix already. As soon as it was announced, the streaming service saw drops in the prices of both bonds and shares, causing worry amongst investors about the costs of planned investments.
Netflix has continued to spend big money on original programming in various markets around the globe, and it has found a way to lure all-star creative talent to the studio. Mega TV deals have become commonplace for the streaming service, with producers like Ryan Murphy and Shonda Rhimes signed to create new content.
One of these top creators is The Simpsons creator Matt Groening, who recently brought his Disenchantment series to Netflix. Early Monday morning, Netflix doubled down on its commitment to the show, ordering an additional 20 episodes.
"We're excited to continue this epic journey with Netflix. Stay tuned for more cranked-up suspense, infuriating plot twists, and beloved characters getting knocked off," Groening said in a statement.
While that's one of the many ways Netflix has found to spend its money, it looks as though the service is also looking to save by cutting ties with some expensive properties. In the last ten days, Netflix cancelled two of its popular Marvel TV programs, Iron Fist and Luke Cage.
"Marvel's Iron Fist will not return for a third season on Netflix," said Disney and Netflix. "Everyone at Marvel Television and Netflix is proud of the series and grateful for all of the hard work from our incredible cast, crew and showrunners ... We're thankful to the fans who have watched these two seasons, and for the partnership we've shared on this series. While the series on Netflix has ended, the immortal Iron Fist will live on."