Netflix, Inc. In Negotiations To Launch In Spain [REPORT]

Netflix, Inc. In Negotiations To Launch In Spain [REPORT]
NFLX Photo by Matt Perreault

Netflix is hitting one milestone after another, and the top priority at the company is adding subscribers from around the world as net subscriber growth in the U.S. slows. The streaming company has been targeting European nations as part of its global expansion strategy, and now it plans to make its service available in Spain.

Negotiations in process

The expansion will take place in late summer or fall, says a report from Variety by John Hopewell. According to the report, the company has already worked with major Hollywood studios on gaining Spanish rights, and Sept.1 is the start date.

Hedge fund thesis for Spirit Airlines and AerSale, a recent SPAC merger

AirlinesPrescience Partners returned 6.75% for the second quarter, underperforming the S&P 500's 8.55% return but coming out ahead of the Barclay Equity Long/ Short Index's 2.62% return. However, for the first six months of the year, Prescience is up 30.66%, doubling the S&P's 15.25% return and smashing the Barclay Equity Long/ Short Index's 9.27% return. Read More

Citing other sources that are more cautious than others, the report says the company is in talks with studios but that nothing has been finalized for now in Spain. As of now, there has been no official information from Netflix about possible expansion in Spain.

A Spanish financial daily newspaper claimed Saturday that negotiations are going on between Netflix and Hollywood majors and independent distributors before the service launches in Spain. The U.S.-based company reportedly has plans to launch its services in Spain by the fourth quarter of the current year.

The newspaper also reported that Netflix will be carried in Spain by the television manufacturer LG through its smart TVs starting September. Samsung too is also said to be planning to introduce smart TVs that are Netflix-compatible this year, as reported by the Korean firm to the newspaper.

Netflix makes a second attempt at Spain

Expanding its services in Spain is in line with the streaming company’s plans of spreading to over 200 countries in a time span of two years. Along with its results for the fourth quarter in the month of January, Netflix announced plans to complete its global expansion by the end of next year.

If the report is true, it will be Netflix’s second attempt to launch its services in Spain. In June 2011, Netflix made an attempt at launching in Spain and offered lucrative deals to Spanish distributors for their content. However, the company never went ahead with its attempt because of high piracy levels in Spain.

No posts to display