Netflix stock soars following Japanese launch date announcement
Netflix will enter the Asian market with the launch of Netflix Japan next month
Netflix stock has soared to a new all-time high with a further 8 per cent jump following the announcement of its long awaited Asian launch date.
The NASDAQ stock exchange closed yesterday following a day of intra-trading with Netflix’s stock sitting at $121.00 a share, representing a 7.5 per cent increase on the day.
The day opened with news that Netflix had finally confirmed a launch date for its long-awaited expansion into Asia, six months after it announced that it would be coming to Japan. The news broke with the launch of the Netflix Japan Twitter account announcing a September 2nd launch date.
— Netflix Japan (@NetflixJP) August 3, 2015
The video streaming service has seen its shares rise 143 per cent so far in 2015 as investors flock to take part in the growth. Much of the success can be attributed to the online video streaming service’s decision to go ahead with a 7-for-1 stock split which made its shares more accessible to a wider range of investors, paving the way for its international expansion.
Netflix CEO, Reed Hastings, said that the company will launch with localised content and an aggressive pricing strategy and that all the major Japanese consumer electronics brands would be including Netflix apps built into the TVs sold in Japan.
The Japan launch date precedes upcoming launches in Spain and Italy which are expected to come in the last quarter of the year.