READ ON: Deadline
With its growing investments in original programs, Netflix expects to burn about $2 billion of its cash flow this year — up from $1.7 billion last year — execs said in a quarterly conference call with Wall Street.
But they insist that it’s money well spent because it helps the company control its destiny.
“It’s a good thing for the shareholder,” CFO David Wells says. “We control more of the rights and the global advantages.”
Chief Creative Officer Ted Sarandos adds that…