Netflix To Hit 43 Latin American And Caribbean Countries In 2011 - Multichannel

Netflix To Hit 43 Latin American And Caribbean Countries In 2011

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Netflix is flying south of the border, announcing plans to offer an unlimited streaming video service in 43 countries throughout Latin America and the Caribbean, including Mexico, later this year.

Netflix's shares climbed about 5% in Tuesday morning trading to around $289.80 per share.

Netflix -- which currently offers service in the U.S. and Canada -- had previously told investors it expects to incur $50 million to $70 million in operating losses in the second half of 2011 related to its second international launch outside of Canada.

The company did not announce specific timing, pricing or content selections. When it launches, Netflix customers across Mexico, Central America, South America and the Caribbean will be able to watch a "wide array of American, local and global TV shows and movies" on their TVs through a range of Netflix-enabled devices, as well as on PCs, Macs and mobile devices, the company said.

Members in Mexico, Latin America and the Caribbean region will be able to access content in Spanish, Portuguese or English, depending on their preference, according to Netflix.

Los Gatos, Calif.-based Netflix has been streaming to U.S. members since 2007 and added the service in Canada last year.

As of the end of March, Netflix had 22.8 million customers in the U.S. and about 800,000 in Canada. It previously said it expects to have between 24.0 million and 24.8 million U.S. and 900,000 to 1.05 million subscribers in Canada by the end of June 2011.

In the U.S., the company's streaming-only subscription plan is $7.99 per month; hybrid DVD-plus-streaming plans start at $9.99 per month for one DVD out at a time.

Netflix has made some "early content commitments" for a third unidentified international market and intends to launch service there in early 2012, the company's executives said in discussing the first quarter 2011 results. They added those "won't materially affect our P&L until next year."

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