The world of television and films has changed with companies like Amazon Prime, Netflix who stream content to subscribers.
www.netflix.com is a pioneer in this arena.
Reading its annual report we can discover its level of debt.
https://s22.q4cdn.com/959853165/files/doc_financials/annual_reports/2018/Form-10K_Q418_Filed.pdf
$10,449 Million of Long Term debt, that has been accumulated through various bond isssues:
5.375% Senior Notes $500million issued in February 2013 matures in February 2021
5.50% Senior Notes $700million issued in February 2015 matures in February 2022
5.750% Senior Notes $400million issued in February 2014 matures in March 2024
5.875% Senior Notes $800million issued in February 2015 matures in February 2025
4.375% Senior Notes $1,000million issued in October 2016 matures in November 2026
3.625% Senior Notes $1,489million issued in May 2017 matures in May 2027
4.875% Senior Notes $1,600million issued in October 2017 matures in April 2028
5.875% Senior Notes $1,900million issued in April 2018 matures in November 2028
4.625% Senior Notes $1,260million issued in October matures in 2018
6.375% Senior Notes $800million issued in October 2018 matures in May 2029
Total $10,449 Million = $10.449 Billion
Look at the interest rates, in a climate of near zero rates, they are paying a high cost of capital.