Netflix Shares Rally On Plan To Expand Into Latin America And The Caribbean

Netfllix shares jumped 7.6% as of mid-day after the company said it will offer its Web streaming service through Latin America and the Caribbean later this year. Investors are hoping that audiences in other countries will respond as enthuiastically as U.S. consumers have to the home video company’s service. Netflix had 22.8 million domestic subscribers at the end of March. But a lot depends on how much the international services will cost — and whether studios provided Netflix with licensing rights to offer the same movies and TV shows abroad that it provides to U.S. subscribers.

Netflix doesn’t offer many details about its plans. Here’s the release: (more…)

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