CES 2016: Netflix Now Streams Globally - Except in China
Charissa Echavez | | Jan 07, 2016 11:32 AM EST |
(Photo : Getty Images) However, the company CEO stated that it has not made much progress in China as the company needs to obtain a government license to start operating in the market.
In a bid to combat the slowing economic growth in the United States, Netflix Inc. announced it has gone global on Wednesday during the International Consumer Electronics Show in Las Vegas. The video-streaming service provider has gone live in over 130 countries except China.
Despite the big leap the company took, it failed to conquer the home of about a quarter of the broadband household users in the world, China. In an interview with BBC News, Netflix's chief executive Reed Hastings admitted they still have plenty of work to do. "Because of the number of countries, it seems like we are ahead of plan. But we still have China --- we still have a quarter of the world to go," he said.
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Hastings admitted that it may take some time to establish the service in China as the company is still "building relationships and trying to be very patient." He stated that an invasion of China requires long-term thinking and planning just like successful enterprises that have entered the country, namely, Disney, Apple and Starbucks.
Asked whether they can make it to the mainland this year, "We hope so, but you never know. Whether it is 2016, 2017, we'll just keep working on it," he said.
Meanwhile, Netflix said that it has already added Arabic, Korean and traditional Chinese to the 17 languages it currently has. Besides China, some other countries were also excluded from the roll out such as North Korea, Syria and Crimea - because of the restrictions imposed by the US government.
Netflix shares rose to 9.3 percent and closed at $117.68 on Wednesday. The company is planning to reach up to 200 countries before the end of the year.
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