Netflix has decided to expand its business reach into European markets in order to continue its profitable earnings. According to BGR, a letter to shareholders confirmed that Netflix’s plan is to increase commerce in Europe as early as September and introduce six new markets.
“In September, we’ll be launching Netflix in Germany, France, Austria, Switzerland, Belgium, and Luxembourg. This launch into markets with over 60 million broadband households will significantly increase our European presence and raise our current international addressable market to over 180 million broadband households, or 2x the number of current U.S. broadband households,” Netflix wrote in the letter, according to BGR.
Netflix has been on an inclining growth spurt, so it appears to be better equipped for the upcoming global development. Forbes reported that Netflix’s international streaming has racked up to $307 million, which totals to more than double the income from just a year ago. In addition, its total net revenue peaked at $71 million, which is much higher than last year’s $29 million.
Beaming with nearly 50 million members in 40 countries, the company is beginning to feel the rewards of its booming business. According to CNN, Netflix is starting to encourage original programming with new shows, and it reportedly has other programs on their way to production as well.
With all the new additions, the company expects to add 3.69 million more subscribers next quarter, and 2.36 million new customers are anticipated to join its international markets, according to BGR. Netflix has high hopes for its global success, and there doesn’t seem to be many people that doubt them, either.
