Netflix to launch service in Latin America this year

With the Canadian market in its hand, Netflix (Nasdaq: NFLX) is going to bring its video streaming service to Latin America and the Caribbean. Set to be launched later this year, Netflix will offer its unlimited monthly streaming video service in 43 countries.

Last September, Netflix began offering its unlimited video streaming service for $7.99 a month in Canada, which marked its initial expansion into international markets. Netflix has been offering video streaming in the U.S. since 2007.

Netflix's foray into Latin America should not be all that surprising. Citing its success in Canada, the online video provider told investors in a letter that it would extend its services into another international market this year.   

While it did not specify when it would launched the service or pricing, Netflix did say that it would offer content in various languages, including English, Spanish and Portuguese, and that consumers would be able to stream its video services over various devices including Blu-Ray players, PCs, Macs and even wireless devices.  

Even though Netflix has done well in the U.S. video streaming market, the Latin American initiative is part of a broader company plan to grow by diversifying the markets it serves.  

For more:
- see the release
- the Wall Street Journal has this article (sub. req.)
- here's FierceOnlineVideo's take

Related articles:
Netflix tips hand, slightly, on plans for two new international plays
The 15 most powerful people in wireline
Reed Hastings, Netflix: Wireline's most powerful people