Since 2012, Netflix has taken more of an active role as producer and distributor for both film and television series, and to that end, offers a variety of "Netflix Original" content through its online library. By January 2016, Netflix services operated in more than 190 countries. Netflix released an estimated 126 original series and films in 2016, more than any other network or cable channel. Their efforts to produce new content, secure the rights for additional content, and diversify through 190 countries have resulted in the company racking up billions in debt: $21.9 billion as of September 2017, up from $16.8 billion from the previous year. $6.5 billion of this is long-term debt, with the remainder in long-term obligations. In October 2018, Netflix announced it would raise another $2 billion in debt to help fund new content. On July 10, 2020, Netflix became the largest entertainment/media company by market capitalization.