Netflix, Inc. (NASDAQ:NFLX) is looking for countries to expand its online video streaming service to in the European market next year. France and Germany are the two countries targeted by the executives of the company, according to report from Reuters.
Netflix meets with leaders in France, Germany, others
On Tuesday, executives of Netflix, Inc. (NASDAQ:NFLX) met with the staff of the President of France to discuss regulatory issues and the possible launching of online video streaming service in the country.
“Netflix wanted information about the legal conditions that would affect its potential arrival in France,“ according to an official at the Office of President. He added that the executives of the company will also visit Germany and other countries in the European region.
The existing regulation in France will be challenging for Netflix, Inc. (NASDAQ:NFLX) because it is primarily designed to protect French cinemas and movie producers. Under the law, companies offering monthly subscription are not allowed to stream films released in cinemas until after three years have passed since the release date. However, a film will be available for rent to consumers via their set-top box after four months of its premiere in the cinemas.
The French Ministry of Culture has an on-going discussion with content owners and media companies regarding the suggestion of a recent study to shorten the delay period for films.
Netflix has foothold in Europe, looking to expand
Netflix, Inc. (NASDAQ:NFLX) is now available in several countries In Europe including the United Kingdom, Ireland, Netherland, Finland, Norway, and Sweden. The company is currently offering French-language programs for its subscribers in Canada.
In a recent letter to shareholders, Reed Hastings, CEO of Netflix, Inc. (NASDAQ:NFLX) emphasized that the company has great opportunities overseas. He also previously stated that the company could generate as much as 80% of its total revenue from its operations abroad in the future.
Separately, Netflix, Inc. (NASDAQ:NFLX) said it is not abandoning binge viewing for kids with the new series of Turbo Fast. The company plans to release five episodes of the new animated series this month.
Joris Everes, spokesperson for Netflix, Inc. (NASDAQ:NFLX) said, “We are releasing Turbo in batches simply because that’s how it will be delivered to us. We are turning that to our advantage by releasing the batches around holidays, when kids viewing usually spikes.” The company will release the rest of the episodes next year.