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.

Mind you, the binge-watcher in us is thrilled to hear that the streaming giant isn't about to go under any time soon. We can Netflix and Chill in peace (for now).

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.

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Doing the maths, 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."

Netflix

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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.

Digital Spy has reached out to Netflix for more information.

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