The LA Times just published an article outlining the massive investment required by Netflix's global growth. Original programming (and buying existing content) is a capital-intensive business.
Netflix has accumulated a hefty $20.54 billion in long- and short-term debt in its effort to produce more original content. The Los Gatos, Calif.-based company hopes more new shows will capture more subscribers, its primary revenue driver. It’s also under pressure to keep spending on new shows as streaming rivals such as Amazon and Hulu expand their own slates of original programming.
You can read the full article here:
Excellent graphic on Netflix's growing obligations: