Netflix Expands Global Reach, Adds 130 Countries to Streaming Service
In a major move to expand its global presence, Netflix has added 130 new countries to its streaming service, sending its share price soaring. With this expansion, Netflix’s global network has grown significantly, now reaching more than 190 countries around the world. The announcement was made by Netflix Chief Executive Reed Hastings at the Consumer Electronics Show in Las Vegas.
Hastings expressed his excitement about the birth of a global TV network, emphasizing the company’s long-standing dream of delivering TV shows and movies to billions of people worldwide. The new countries gained access to Netflix’s library of movies, TV shows, and original series, while also enjoying the option to watch content in their local languages such as Arabic, Korean, and Chinese.
Netflix plans to release a total of 31 new and returning series, 24 films and documentaries, 30 original children’s series, and a range of stand-up comedy specials in 2016. The company aims to cater to the growing demand for internet television and the increasing preference among consumers to watch content at their convenience, without interruptions from commercials.
This massive expansion came as a welcome surprise to investors, who had been concerned about a potential slowdown of Netflix’s domestic business. As a result, Netflix’s shares experienced a significant boost on Wall Street.
Ted Sarandos, Netflix’s Chief Content Officer, described this expansion as the beginning of a new phase for the company. He mentioned plans for localization, increased local content, and additional languages and payment options in different territories. Netflix’s ultimate goal is to provide a truly great global service for its subscribers.
Despite the positive growth, there are still some challenges that Netflix faces. One such challenge is entering the Chinese market, which remains currently out of reach due to competition and potential censorship issues. However, Sarandos expressed optimism, noting that they would continue to work on cracking the world’s second-largest film market.
Netflix’s subscriber base has shown tremendous growth, with users watching 12 billion hours of content globally in the last three months of 2015 alone. However, the company has experienced slower-than-expected growth in the U.S., resulting in increased scrutiny from investors. Netflix is expected to release its fourth-quarter results soon, which may shed more light on the company’s domestic performance.
Overall, Netflix’s expansion marks a significant milestone in the evolution of the global media landscape. As the power dynamic in media consumption shifts from corporations to users, Netflix continues to lead the way in delivering entertainment to audiences worldwide.
