US VIDEO giant Netflix has announced plans to expand into the Irish and British markets. The California-based streaming company offers a subscription-based rental service which allows users access movies and television shows for a monthly fee over the internet.
The company said it was planning to enter the Irish market early next year at the same time as it will launch in Britain.
Netflix, which was founded in California in 1998, pioneered online DVD rentals, charging members a flat monthly fee to receive discs in the post with no late return fees. It has increasingly been moving to online streaming, but has attracted criticism as it changed its business model.
In July, it increased subscription charges by up to 60 per cent, a move which resulted in its share price dropping by 60 per cent. In September, it said it would move its DVD rental business to a new website called Qwikster but within a month reversed the decision.
Chief executive Reed Hastings admitted the company had communicated the changes badly but said it would still have 25 million members in the US, Canada and Latin America. It charges users $7.99 a month for unlimited access.
The company said it would release details about its pricing structure in Ireland closer to the launch. Customers can view videos on a PC, tablet, smartphone or games console. Increasingly, high-definition TVs, blu-ray players and other devices are pre-loaded with software to access NetFlix.
