ADVERTISEMENT

Video streaming service goes global, reaches most countries except China

Netflix, which had expanded into more than 60 countries before Wednesday's launch, previously said it aimed to reach 200 countries by the end of 2016.

Netflix Inc's video-streaming service went live in more than 130 countries on Wednesday, covering almost the entire globe except China, in a huge global push by Chief Executive Reed Hastings to counter slowing growth in the United States.

Shares of the company, whose popular shows include "Unbreakable Kimmy Schmidt", "Daredevil" and "Narcos", jumped 9.3 percent to close at $117.68.

India, Nigeria, Russia and Saudi Arabia were among the major countries where the service was launched, Hastings said at a speech at the Consumer Electronics Show in Las Vegas.

"(This is) much sooner and much more ambitious than expected," Wedbush Securities analyst Michael Pachter said.

ADVERTISEMENT

However, all shows will not be available immediately to some Netflix fans.

"We're moving as quickly as we can to have global availability of all the content on Netflix," Hastings said at a press conference after his speech.

U.S. government restrictions on American companies mean Netflix will not be available in Crimea, North Korea and Syria.

The company is still exploring options for providing its service in China, the world's most populous country. Asked if Netflix will make it into the Chinese market in 2016, Hastings said in an interview "we hope so, but you never know."

"With China, you really want to build relationships first, before you get to the practical parts of building a business," he said. "And so we are doing that now and getting to know people, both in government and in partner companies."

ADVERTISEMENT

"We’ll just keep working on the relationships," he said. "We are very patient. Whether it is 2016, 2017, we’ll just keep working on it."

Netflix on Wednesday added simplified and traditional Chinese to the 17 languages it already supports.

"I think there's been pent-up demand for Netflix outside of the few geographies they were available in previously," Brian Blau, research director at Gartner, told Reuters.

Netflix, which has been spending aggressively to expand globally, has said it planned to "run around break-even through 2016" and then deliver profits.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

We’re not stopping - Onakoya extends Guinness World record chess marathon target by 2 hours

We’re not stopping - Onakoya extends Guinness World record chess marathon target by 2 hours

'We have done it': Tunde Onakoya reaches 58-hour mark chess marathon

'We have done it': Tunde Onakoya reaches 58-hour mark chess marathon

Forgive me my papa - Self-acclaimed Hausa traditional ruler kneels to beg Oba of Benin

Forgive me my papa - Self-acclaimed Hausa traditional ruler kneels to beg Oba of Benin

Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure

Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure

Plateau University suspends exams over killing of student

Plateau University suspends exams over killing of student

Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma

Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma

APC group claims Tinubu’s initiatives stimulating economic recovery

APC group claims Tinubu’s initiatives stimulating economic recovery

Plateau Gov urges calm after attack that led to death of 200-level PLASU student

Plateau Gov urges calm after attack that led to death of 200-level PLASU student

NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

Pulse Sports

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

ADVERTISEMENT
ADVERTISEMENT