Netflix, an American provider of on-demand media streaming, is reportedly expanding to four Asian countries — Hong Kong, Taiwan, Singapore and South Korea — after beating its new international subscriber projections during the second quarter.
Netflix has already launched its services in Australia, New Zealand and just recently, in Japan. The Q2 results revealed that 3.8 million new subscribers from out of the country were added, topping its 2.5 million projection, CNet reported.
The company has a total number of 65 million subscribers, with 23 million coming from the international market, according to Quartz. The overseas subscribers are reportedly growing at a rate that is more than twice compared with the local ones.
"The combination of increasing Internet speeds and ubiquity of connected devices provides consumers with the anytime, anywhere ability to enjoy their favourite TV shows and movies on the Netflix service," Netflix CEO Reed Hastings stated, adding that the four markets will be representing these trends.
Netflix will be available in 84 countries once the company has successfully entered these four countries. The company's launch in Portugal, Spain and Italy is expected before the year ends.
The expansion to the four Asian countries is slated on 2016. The company is still tight-lipped about the details on pricing, programming and availability, saying that the information will be coming out later.
There are speculations that Hastings is hoping to expand in China next year, although it wasn't mentioned in the company's statement. If it does happen, Netflix will be facing a tough competition among Tencent Holdings Ltd., Baidu Inc. and Alibaba Group Holding Ltd., which has started testing the Tmall Box Office, a Netflix-like service.
The news came up through a Chinese-language statement on the website, but was quickly pulled, as per the report of Bloomberg.
Meanwhile, Netflix reportedly fell 3.9 percent to $94.95. The stocks, however, increased 95 percent this year.
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