Netflix, Inc. (NASDAQ:NFLX) Pushing For Expansion In The European Region With Introduction To Portugal, Spain And Italy In September

Netflix, Inc. (NASDAQ:NFLX) has recently announced that it has plans to extend its launch in more countries within the European region. The online content streaming company will launch In Spain, Italy and Portugal in September.

So far, Netflix is available in Germany, Austria, Belgium, Luxembourg, France and Switzerland. The three new additions will bring the total to twelve European countries. So far, the company boasts of a prestigious 60 million subscribers worldwide, with 40 million of them located within the United States.

Netflix has been making arrangements to expand on a global scale after the firm established that it has been vastly growing in popularity. Additionally more people have embraced fast internet connections and thus the number of people yearning for organized online content has grown. It is also within the company’s scope to boost its growth by expanding into more countries. This will allow Netflix to register more revenues while at the same time solidifying its status and gaining an edge over its competitors.

Netflix, however, identifies that it will not be easy to carry out such a massive task. Launching in more countries means that the streaming service has to employ more customizations to the content for the different regions. Since the audiences are different, they will most likely have different preferences.

The company, however, announced that it will continue to place more emphasis on its original content. Netflix has been engaging in the production of its original content through Netflix studios, and that strategy has been very successful. The company also announced that it will reveal more details particularly with regards to the pricing and programing strategies before the launch in September.

During an interview, Netflix, Inc. (NASDAQ:NFLX)’s CEO, Reed Hastings revealed that the company will ensure a standard pricing in line with the currently prevailing price in the European countries. The price should, therefore, average $8.88. The extended European launch comes just a few months after the company successfully launched in Australia. Further details regarding launch in more countries are yet to be revealed.

About the Author

Adam is a staff reporter for US Markets Daily Publications & Media, covering foreign affairs and domestic policy.

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