New York — The rise of streaming has changed the way people watch television. Now companies such as Netflix are reshaping how TV production is financed. As the company snaps up the most sought-after scripts and ideas, it is signing longer-lasting rights deals than traditional broadcasters and staggering payments for shows over several years, according to people familiar with the strategy. Regulatory filings show that over the next five years Netflix will drip-feed a total of $19.3bn to producers for new shows and to license TV that has already been made. For producers, this is a departure from old norms of accounts being settled in full on delivery, and it means having to take out longer-term loans to finance new shows.  For the banks providing that financing, this is also new territory: longer-term loans are inherently riskier than short-term ones and Netflix, as the ultimate payer, is a riskier proposition than traditional broadcasters. Its credit rating, double-B, deems it below ...

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