Argentina Planning Its Own Service Like Netflix, Inc.

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Netflix is a big favorite of Cristina Fernandez de Kirchner, the president of Argentina. She is such a big fan of the U.S. firm that she plans to create her own “national and people’s” version of the streaming service, says a report from VICE.

Not much info on Netflix for Argentina

The new Netflix-like service will telecast domestic film and television productions exclusively for Argentina, thus promoting the subsidized film industry. Not much is known about the project except that it will only be available inside the country.

Introduction of an on-demand video streaming service like Netflix would help satisfy Kirchner’s craving for quality television programming. Sometimes comments over a popular television series from Kirchner makes the headlines. Last year, Kirchner told citizens to watch the Netflix series The Killing, and, in September, she said, “Netflix is seriously good.”

To date, the so-called “people’s Netflix for Argentina has not been given a name or budget. Argentina’s national satellite company, ArSat, and country’s National Institute of Cinema and Audiovisual Arts (INCAA) will be jointly developing be service, says the report.

Some in favor, some not

The announcement regarding a Netflix l-ike service for Argentina has raised some suspicions. The reports states that Argentina’s film industry, which is majority government subsidized, is facing many allegations of frauds and blacklists.

Adding to this, the country already has an exclusive streaming video service called Open Digital Contents or CDA. The service was launched by Argentina’s ministry of plannin, in 2012. Its reason for existence is not very clear as the platform has over 400,000 registered users and 4,000 daily views, which is not very impressive considering the size of the country. This has led many to criticize the government for moving tax money into domestic industry, which is not performing well.

“There has been an explosion of audiovisual materials in the last years that in no way can be consumed,” Gustavo Noriega, a film critic told VICE News. “They are encouraging a fake industry.”

On the other hand, there are many who are in favor of a new streaming service for Argentina. Despite the not so impressive performance of subsidized domestic productions, many people believe that a Netflix-like streaming service will boost Argentina’s film community.

As of around 10 am EDT, Netflix shares were down 0.44% at $112.05, but year to date, the stock is up almost 130%.

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