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Netflix Heads to Europe, Spain First on the List

Netflix is all set to roll out its services in a couple of new territories - Spain and Britain within the first half of 2012, the company announced.

Along with Spain and Britain, the company is reportedly also planning to launch its services in a few other countries from Europe and Asia as well.

Chief Executive Officer of Netflix, Reed Hastings also announced that international expansions are likely to play a major part in the company’s overall growth in the years to come.

The company currently enjoys a massive 25 million subscriptions base in the US and Canada region. However, as estimated by the industry experts, the growth rate of the company is likely to slow down significantly in these regions owing to a steady 60 percent hike in the prices of online video contents and DVDs the company is offering.

Netflix had unveiled its Internet streaming services in Canada last year in the month of July, and it officially announced its intention of launching similar services in 43 Latin American countries by the end of 2011.

“As it examines new foreign markets, Netflix is seeking countries with high broadband Internet participation rates and popular content that is available to be licensed and not locked up in exclusive contracts with other distributors, the people close to the matter said,” Latimes reports.