Netflix enjoys UK success

Netflix says its UK launch has added three million subscribers to its overall figure, which now stands at 26 million.

In its Q1 2012 financial report, Netflix said the take-up in the UK and Ireland during Q1 was more impressive than other launches in Canada and Latin America. However, the UK  service is expected to take at least two years to become profitable.

Netflix CEO Reed Hastings said that the company will return to global profitability in Q2 and, as a result, will speed up plans to launch more international services.

“Given our expected return to global profitability in Q2, and how well we’ve been received in the UK, we’ve decided to open an additional attractive European market in Q4 of this year,” he said. “Assuming continued success, and additional markets we can enter with confidence, we expect to roughly match the roll-out of new markets to global profitability for the foreseeable future.”

Hastings said the company plans to target developed markets for its next phase of growth.

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