Online movie streaming giant Netflix Inc said it will launch its service in Australia and New Zealand in March, fuelling pricing pressure on domestic broadcasters and media firms already fighting hard for home entertainment viewers.
In a statement, Netflix said it will sell content in the region for streaming on televisions, tablets, smartphones, computers and Internet-connected game consoles. Netflix will disclose pricing later, and didn’t say much it will invest nor how many subscribers it hopes to attract.
Fast-growing Netflix had been expected for some time to target the market as it seeks to accelerate international expansion from its home base in the United States. Netflix currently has more than 50 million subscribers worldwide.
Australia offers a lucrative opportunity. A broadband network now being built is expected to give 93 per cent of the country’s 23 million population high-speed Internet access, but existing home-entertainment content providers have relatively low penetration for now.