SVOD giant Netflix keeps getting bigger. The company announced today it plans to enter Hong Kong, South Korea, Singapore and Taiwan in the first quarter of 2016. That move follows Netflix’s much-vaunted entry into Japan earlier this month. The quartet of new countries brings Netflix a little closer to its stated aim of operating in 200 countries by the end of 2016. There’s still no confirmed date or announcement with regards to Netflix’s potential entry into China. While the Middle Kingdom reps something of a VOD Holy Grail for the company, there is fierce competition in China, with the likes of Alibaba, Baidu and Tencent already well-established and deep-pocketed.
“The combination of increasing Internet speeds and ubiquity of connected devices provides consumers with the anytime, anywhere ability to enjoy their favorite TV show and movies on the Netflix service,” said Netflix chief exec Reed Hastings. “These four markets well represent those trends.”
Netflix currently claims to have more than 65 million subscribers in more than 50 countries. Netflix’s share price was up over 6% on the news of the Asian expansion, hovering just over the $100 mark. The company’s share price has taken a bit of a beating in recent weeks – reflecting to a certain extent general uncertainly over the global economy- dropping from a high of $126 on August 6 to as low as $94.95 this past September 8 before recovering.