Netflix Inc. said it agreed to raise about $400 million in cash from selling stock and bonds that can be converted into stock, a move seen by analysts as a sign that efforts to acquire video content are proving expensive.

The DVD-rental and online-video company also expects to be unprofitable for 2012, according to the regulatory filing for the fund-raising. The company added that revenues would be flat until its subscriber base rises, but said it couldn't be certain whether such growth would happen.

The announcements come after a months-long rough spell for Netflix. Customers and investors howled after it raised prices on a popular subscription plan by 60% in July, and when it announced in September a since-aborted plan to separate its DVD-rental-by-mail service into a separate business called Qwikster.

The Los Gatos, Calif., company has said it lost 800,000 subscribers in this year's third quarter, while its shares have fallen 74% since the price hike was announced on July 12.