Netflix Inc has announced that it is expanding its online video service to a further 43 countries in Latin America and theCaribbean. This announcement has left the company?s shares to an all time high. Netflix had begun its expansion spree by offering services in Canada last year.
“I think generally people were expecting a launch in one country and this was a whole region,” said Atul Bagga, an analyst at Think Equity. “I think that there is a lot of room for growth in these markets.” However Netflix has declined to comment on this matter.
Netflix offers TV shows and movies over the Internet and rents DVDs through the mail is now looking for new subscribers as competitors such as Apple, Google and Hulu are moving in on Netflix?s turf.
Sources: REUTERS; Economic Times