Netflix plans expansion into S. Korea, Asian markets

September 9, 2015

netflixHONG KONG (AP) — Netflix said Wednesday it’s planning to enter four more Asian markets next year as the Internet video streaming service steps up its international expansion.

People in South Korea, Singapore, Hong Kong and Taiwan will be able to watch the company’s films and TV shows on Internet-connected devices starting in early 2016, it said in a statement.

The announcement comes a month after the Los Gatos, California-based company announced plans to expand into Japan. It already operates in Australia and New Zealand.

Netflix has ambitions to make its service available throughout the world and has already been selling its services in more than 50 other countries outside the U.S.

The company is borrowing $1 billion to help finance its global expansion, which it plans to complete by the end of next year.

However, it may have to forge partnerships to enter some countries such as China, where there is stiff competition from state-owned broadcasters and media companies as well as big, private Internet firms.