If the claims that Netflix is $20 billion in debt had you feeling better about your money worries, then we have some bad news for you – they're not true.
After the Los Angeles Times reported that Netflix had accrued a whopping $20.54 billion "in long term debt and obligations", the service was forced to issue a statement.
Debunking the LA Times' account, Netflix insisted that their calculations were "inaccurate" and even called Disney and ESPN out at the same time.
A spokesperson for Netflix told Digital Spy: "The L.A. Times story inaccurately calculates our debt, counting our streaming obligations (i.e. our content contracts with studios) of $15.7b as debt, which it isn't."
"The correct number: we have total gross debt of $4.8b vs. our equity market value of about $75b. They have since corrected the story."
They went on to explain that the $15.7 billion figure is "future content expenses" that every "broadcaster, cable network and streamer that has licensing agreements" has.
"As a point of reference, Disney/ESPN has $49b in similar commitments for sports contracts," the statement added. That's told us, then.
