The bulk of that money goes toward licensing third-party movies and TV shows, in addition to bankrolling their own original programming.
Last year, Netflix had racked up long-term debt exceeding $3.36 billion, and that number has since increased exponentially.
On the surface, Netflix appears to be the streaming giant to compete with, the company that drove Blockbuster and other brick-and-mortar video rental stores out of business.
By the same time this year, the streaming service had registered long-term debt upwards of $4.84 billion.