Netflix officially announced an exclusive multiyear deal with the Obamas new production company "Higher Ground Productions" for original programming.
REALITY CHECK A Netflix exec recently said their target is the release of 80 original films this year, which range from sub-indie low-budget pictures to $100 million blockbusters. Netflix's efforts to produce new content, secure the rights for additional content, and diversify through 190 countries has resulted in the company racking up billions in long-term debt: $21.9 billion as of September 2017, up from $16.8 billion from the same time the previous year, although only $6.5 billion of this is long-term debt; the remaining are long-term obligations.