Netflix targets France and Germany in European expansion drive
Video streaming service Netflix is setting its sights on Europe for 2014 as it eyes to continue its recent rapid growth which added 4m global subscribers in the fourth quarter.
Potential launches in France and Germany are being eyed up as part of efforts to boost the US firm’s European presence, following its strong performance at home and abroad.
At present the firm is present in seven European markets; the UK, Ireland, The Netherlands, Norway, Sweden, Denmark and Finland along with 41 other countries outside the US.
On an open letter to shareholders Netflix CEO Reed Hastings and CFO David Wells wrote: “We plan later this year to embark on a substantial European expansion, our success this year in international net additions and shrinking contribution losses confirms our belief that there is a big international opportunity for Netflix.”
Netflix anticipates adding a further 3.85m subscribers in the first quarter of 2014 to take its tally to 48.2m by the end of March.