Netflix to enter Asia in 2016

Sep 09, 2015 (LBO) – Netflix, an on-demand internet and video streaming pioneer, with a subscriber base of 65 million in 50 countries will enter Hong Kong, Taiwan, Singapore and South Korea early next year, foreign media reports said.

According to a press release that was posted in Chinese on its website and taken down, the online offering will include movies, TV shows and content suitable for children, the report said.

“Additional details on pricing and programs will be announced later,”

“Netflix, based in United States, is racing to complete a global expansion by the end of next year as the company’s growth prospects have made the stock the top performer in the Standard & Poor’s 500 Index this year.”

However the report says the shares have pulled back in recent weeks, in part due to concern over increased competition for viewer’s dollars.

The company introduced service in Japan on September 02, starting at 5.40 US dollars a month.

The stock has risen 95 percent this year, the report said.