Netflix CEO Reed Hastings spoke at the unveiling of the iPhone 4 by Apple CEO Steve Jobs at Apple Worldwide Developers Conference in San Francisco, California, in June last 7, 2010 file photo.
Credit: Reuters/Robert GalbraithBy Jennifer SabaNEW YORK | Tue, July 5, 2011 3: 00 pm EDT
NEW YORK (Reuters) - Netflix Inc. extends its video service 43 countries in Latin America and the Caribbean Online, sending its shares to a record level.
It's incursion Netflix outside the United States second. He began to offer its services to the Canada last year.
Netflix, which offers broadcasts of TV and films on the Internet and DVD rental by post, look for new subscribers as competitors such as Apple, Google and Hulu are moving the lawn to the Netflix.
The company has been widely should announce plans for an international moving and reported that he could grow in at least two markets per year from 2012.
"I think generally people expect a launch in a country, and it's a whole region," said Atul Bagga, analyst think equity. "I think that there is plenty of room for growth in these markets."
The Latin American market has an estimated user of 215 basis, from the United States million, with approximately 245 million dollars, Bagga said.
Netflix said Tuesday that subscribers to the Mexico, Central America, South America and the Caribbean will be able to access entertainment and cinema Spanish, Portuguese or English later this year.
Netflix declined to comment on further expansion.
In a letter to investors in April, Netflix said that there should be $ 50 million to $ 70 million in operating losses in the second half of the year with his second international expansion.
Netflix shares have had an incredible race in recent years - to about 1,000 percent since 2008. The last few months, some investors bet that the stock will fall after its trajectory resembling a rocket.
Which would also explain instead of sharing today, said Bagga on investors in the stock pile to cover their short position.
Once considered a friend to the studios of television and film, media conglomerates have fretted their venerate yet on the popularity of Netflix because it threatens the traditional suppliers of cable and satellite.
There is concern that consumers will drop expensive cable packages - called cord cutting - cheaper services offered by companies such as Netflix.
Netflix has more than 23 million subscribers. In contrast, Comcast, the cable no. 1 at the United States operator, was 22.8 million subscribers to 31 March.
Netflix shares reached a record level of $291.23 and increased by 8% to $289.48 in afternoon Nasdaq trading.
(Reporting by Jennifer Saba in New York and Lisa Richwine in Los Angeles; editing by John Wallace, Derek Caney, Dave Zimmerman)
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