LOS ANGELES, Sept 9 — Netflix Inc, the online video streaming pioneer, will enter Hong Kong, Taiwan, Singapore and South Korea early next year, according to a press release that was posted on its Chinese-language website and taken down.
The online offering will include movies, TV shows and content suitable for children, according to the statement. Additional details on pricing and programs will be announced later, the statement said. The company didn’t respond to requests for comment.
Netflix, based in Los Gatos, California, is racing to complete a global expansion by the end of next year. The company’s growth prospects have made the stock the top performer in the Standard & Poor’s 500 Index this year, with subscribers exceeding 65 million in 50 countries. Still, the shares have pulled back in recent weeks, in part due to concern over increased competition for viewer’s dollars.
Time Warner Inc’s HBO, Hulu and Amazon.com Inc have all boosted their online offerings this year, while Apple Inc. is considering its own video streaming service. Netflix introduced service in Japan September 2, starting at US$5.40 (RM23.25) a month.
Netflix fell 3.9 per cent to US$94.95 at the close in New York, the seventh-straight daily decline. The stock has risen 95 per cent this year. — Bloomberg
