Netflix launches in 130 countries as US growth slows

Video streaming company Netflix yesterday launched its services in 130 countries, covering almost the entire globe except China, as part of efforts to counter slowing growth in the United States.

Shares of the company, whose popular shows include House of Cards, Orange Is The New Black and Narcos, rose 5.5 per cent to $113.60 in afternoon trading.

India, Nigeria, Russia and Saudi Arabia were among the major countries where the service was launched, chief executive Reed Hastings said at the Consumer Electronics Show in Las Vegas.

The company, whose services were available in more than 60 countries before yesterday’s launch, had previously said it aimed to reach 200 countries by the end of 2016.

US government restrictions on American companies mean Netflix will not be available in Crimea, North Korea and Syria. The company said yesterday it was exploring options for providing its services in China. – (Reuters)