Users connected to the Internet will soon be able to subscribe to the service and watch what the company calls their "curated selection of popular movies and TV shows in high-definition or 4K." At launch, Netflix's South Pacific offerings will include original series Marco Polo, BoJack Horseman and, DreamWorks Animation's (DWA) All Hail King Julien.
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Netflix shares were advancing 0.50% to $382.95 in early Wednesday trading in New York.
Last month, Netflix reported third quarter earnings of 96 cents on revenue of $1.41 billion, above the 93 cents a share analysts had expected. The company disappointed when it came to the number of paying customers. Netflix announced it had added 980,000 U.S. subscribers in the quarter while analysts has been looking for 1.37 million new users. Fourth-quarter EPS guidance was also below analyst estimates.
Netflix's main competition in the Australian pay-TV marketplace is Foxtel, a joint venture between News Corp. and Telstra. Foxtel recently slashed it's monthly cable and satellite service fees in half to better compete with the new offering from online streaming services. It's estimated that only 30% of Australians subscribe to pay TV services.
The new expansion will bring the number of Netflix countries to more than 50. The service is available to subscribers in the U.S., Canada, Latin America, the U.K., Ireland, Denmark, Finland, Norway, Sweden, the Netherlands, France, Germany, Austria, Belgium, Luxembourg and Switzerland. Currently, more than 25% of Netflix's 53 million customers live outside the United States.