Netflix, Inc. Enters 130 New Countries But Not China

0
Netflix, Inc. Enters 130 New Countries But Not China
NFLX Photo by Matt Perreault

Netflix is taking its two goals very seriously: expanding globally and offering new original content. The streaming firm not only has promised its customers 600 hours of new original content but also made a giant step towards its goal of global domination by making an entry in 130 new countries (excluding China) on Wednesday.

Play Quizzes 4

Netflix: a global television network

On Wednesday, Netflix CEO Reed Hastings made an announcement at CES in Las Vegas that it has made available its services in several emerging markets, including India, Indonesia, Russia, Azerbaijan, and developed markets like Singapore and South Korea, and is now available in 130 additional countries.

“While you have been listening to me talk. The Netflix service has gone live in nearly every country of the world but China—where we hope to also be in the future,” the CEO said.

This Too Value Fund Explains Why Turkey Is Ripe For Investment Right Now

TurkeyThe Talas Turkey Value Fund returned 9.5% net for the first quarter on a concentrated portfolio in which 93% of its capital is invested in 14 holdings. The MSCI Turkey Index returned 13.1% for the first quarter, while the MSCI All-Country ex-USA was down 5.4%. Background of the Talas Turkey Value Fund Since its inception Read More

Hastings could not explain what’s wrong with China, but he did refer to Netflix as a global television network. At the close of his keynote at CES, Hastings said he believes that the service has basically taken over the world. Many might refer to Netflix as just another tech company that intends to take over the world, but this definitely is good news for Jessica Jones fans and fans of Netflix’s other originals across the world.

Stock rallies after Hastings announcement

Netflix, which was launched in the year 1997, is expected to have surpassed 74 million global subscribers by the end of 2015. Hastings said subscribers viewing climbed 45% in the last three months of the year compared with the same period in 2014. For the last three months of 2015, global content viewing was recorded at 12 billion hours.

Netflix was the best-performing S&P 500 stock for 2015 with a share price that more than doubled. The year was really good for the streaming service giant, but its shares had been down this year due to factors like the market sell-off and worries regarding subscriber growth. However, after Hastings’ disclosure, the company’s shares rallied.

On Wednesday, Netflix stock closed up 9.31% at $117.68. Year to date, the stock is up 8%, while in the last year, it is up by over 136%. The stock has a 52-week high of $133.27 and a 52-week low of $45.26.

Updated on

Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com
Previous article Absolute Return Partners: The Biggest Stories of 2016?
Next article Intel Corporation Unveils New More Powerful Compute Sticks

No posts to display