Thursday, April 24, 2014

NETFLIX ANNOUNCES HISPANIC EXPANSION; STOCKS SOAR

July 5, 2011 by · 1 Comment 

Netflix announced plans today (Tuesday) to expand its streaming service to 43 countries before the end of the year. In a statement, the company said that the countries are all located in Latin America (Mexico, Central America, and South America) and the Caribbean and that subscribers will be able to choose to watch movies and TV shows either in Spanish, Portuguese or English. (There are 20 countries in Latin America; 26 in the Caribbean.) The company did not indicate how much it will charge for the service except to say that it will be available “for one low month monthly subscription price.” It also did not indicate who whether Latin American studios and/or TV networks and other local media will be providing content. Netflix launched its U.S. streaming service in 2007, then added one in Canada in 2010. The announcement sent Netflix stock soaring to an all-time high at mid-day trading. The stock was up $13.69 to $281.68