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Netflix to expand business over Europe

Norway, Denmark, Sweden, and Finland are countries which can expect the streaming service by 2012, as part of the firm's expansion strategy.
Written by Charlie Osborne, Contributing Writer

During the company's latest earnings call, Netflix mentioned that it had identified a new, attractive market to break into through Q4 2012 -- and now it has come to light where the firm's eyes have been wandering.

netflix expands service across europe

Before the end of the year, the popular movie and TV steaming service will be launching in Norway, Denmark, Sweden, and Finland, the company announced today. According to the statement, Nordic viewers will be able to access the standard service:

"Upon launch, broadband Internet users in the Nordic countries can subscribe to Netflix and instantly watch a wide array of Hollywood, local and global TV shows and movies; many with high definition video and Dolby Digital Plus surround sound."

Further details about the service, including the official launch date, pricing, content and which devices will be supported have not been announced.

However, Iceland seems to have been left out in the cold, as there is no mention of launching the streaming service there -- at least this year. Considering the company's gradual expansion to countries across the world, it may not be long before Iceland is included. 

However, while expanding, Netflix has to keep in mind what the averge broadband speeds of the new market countries are. When the firm launched in Brazil, it found it to be a "challenging market" due to low broadband penetration rates.

The four countries will be joining customers based in the United States, Canada, the UK, Ireland and Latin America. The company says it has over 27 million streaming members worldwide. 

The streaming service arrived in the UK in January, where it is continues to compete against Amazon-owned rival LOVEFiLM. Earlier this year, the streaming service became available on Windows phones in the UK, Ireland and Latin America.

U.S.-based Netflix reported second quarter earnings in July, posting revenues of $889 million and earnings of $.11 per share, beating analyst's predictions of 5 cents a share.

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