As a part of its global expansion plan, Netflix has announced plans to enter Japan this fall
Netflix is very confident about its expansion plans after its recent earnings results, and on Wednesday, the company made an announcement that it will expand into Japan this fall. The expansion, which is a part of a bigger plan of Netflix’s global expansion initiative by 2016, will mark the first foray of the video steaming company into the Asian market.
Peters promoted to head of Japan operations
In recent months, the video streaming giant has announced several expansions, including plans to open a regional office in Tokyo. A regional office there will help the company to create and maintain good terms with consumer electronics makers and with Japanese film and TV creators. To oversee the business in Japan, Gregory K. Peters, chief of streaming and partnerships officer at Netflix since 2013, has been promoted to the position of General Manger of Japan. Peters, who joined Netflix in 2008, can speak Japanese and holds a degree in physics and astronomy from Yale University.
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“With its rich culture and celebrated creative traditions, Japan is a critical component of our plan to connect people around the world to stories they love,” Chief Executive Reed Hastings said in a statement.
The premium and unique offerings from Netflix will not only include selective Japanese TV shows and movies but also original shows from the video streaming giant like Marco Polo. Other shows to be streamed by Netflix are the thriller Sense8, Marvel’s Daredevil, and the Academy Award-nominated documentary Virunga.
Global expansion plans of Netflix
Starting next month, Netflix’s services will be available in Australia and New Zealand, as announced by the company in November. Netflix launched its services in six European countries, including Germany and France in September. The global expansion did not come easy, with the streaming service facing some resistance in France where the film industry is closely tied with the identity of the nation.
Netflix has plans of operating in as many as 50 countries, and at present, its subscriber count is more than 57 million worldwide. On Wednesday, Netflix’s stock closed down 1.8% at $448.71, and year to date, shares are up by over 30%.