Netflix, Inc. (NADSAQ:NFLX) is the global leader in internet television with over 50 million subscribers in around 40 countries. Increased popularity of online streaming aided Netflix in their incredible growth in the last few quarters. FBN’s Laurel Simonetti reported on Netflix’s plans in Europe on Fox Business.
Unites States has been the primary market for Netflix, Inc. (NADSAQ:NFLX) with around 32.3% Internet TV market share. They have also expanded into more than 40 countries around the globe.
Netflix, Inc. (NADSAQ:NFLX) has already made its presence in European markets by first launching their streaming service in UK and Ireland in 2012. Towards the end of 2012, they also launched their services in Norway, Sweden, Denmark and Finland. In 2013, they launched their streaming service in Netherlands.
Simonetti reported that Netflix, Inc. (NADSAQ:NFLX) is expanding their presence further in European market by launching their streaming service in 6 European countries today.
“[…] Netflix is tapping in 6 new European markets today. Germany, Austria, Switzerland, Belgium, Luxemberg and France. But the French are resisting […],” Simonetti said.
She mentioned that Netflix, Inc. (NADSAQ:NFLX) is facing tough resistance from French for launching their service. She said that the reason for resistance from French might be due to fact that under French law, 40% of French origin content should be present on French TV, Radio and Movies.
This law makes it difficult for Netflix, Inc. (NADSAQ:NFLX) to make all their content available to people in France. To deal with this law, Netflix is planning to produce television series in French written by Dan Frank, Award winning French writer. They are planning to start streaming this series by the end of 2015.
Among the shareholders of Netflix, Inc. (NADSAQ:NFLX) is Icahn Capital Lp, led by Carl Icahn. As of 30 June, 2014, they hold around 1.8 million company shares.