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Netflix, the global video streaming giant, strengthens its presence in Europe, advancing toward "world domination."
U.S. video streaming service Netflix is significantly expanding its European operations. It announced new service launches this year in six countries: Germany, France, Austria, Belgium, Luxembourg, and Belgium. This marks its largest move since entering South America and the Caribbean in 2011. In Europe, it already operates in the UK, Ireland, the Netherlands, Denmark, Norway, Sweden, and Finland. CEO Reed Hastings is demonstrating vigorous moves to establish global dominance against competitors like Amazon Instant Video and Time Warner's HBO.
Expanding operations in Europe presents numerous challenges due to differing legal frameworks and content preferences across countries. Gilles Fontaine of French research firm Digiworld explains the complexity: "Viewing habits in Europe are far more complex than in the US. Each country has its own top-rated programs, making a pan-European content strategy impossible."
Netflix announced it will invest $3.2 billion in content this year. The company currently has 48 million subscribers, 35.7 million of whom are in the US. CFO David Wells stated the company aims for 60 to 90 million subscribers in the U.S. and at least 120 million outside the U.S. going forward. He expressed strong expectations for Europe as a particularly attractive market, citing its high broadband penetration and large middle-class population.
Source: Ad Age
Netflix Enters Germany, France in Biggest Move Since 2011
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