Netflix has added another country in its list of expansion plan as its next Asian market for 2016.
Netflix Inc. is one of the biggest and largest online video content service providers in the world. Its unlimited offerings have made it the number one preference for viewers’ subscription. In recent times, the company was aggressively expanding in every corner of the world to not only expand its business but also increase the reach of its streaming platform and offer it to people who are unable to use it. It recently expanded in Australia, New Zealand, and Cuba. Now it is all set to take a step and begin operations in Cambodia.
As it is believed, the company is determined to offer its streaming service to almost all parts of the world by the end of 2016. The process to achieve this goal has already started hence Netflix will soon be offering its online streaming service to Cambodia. Netflix realizes and understand that Asia is one of the biggest markets for streaming services and videos hence it wants to grab this opportunity. The company also understands that interconnectivity and the use of internet is increasing aggressively in this region therefore it may result to be a fruitful long-term plan when the expansion goes through.
However, this part of Asia is comparatively on the lower side when it comes to the usage of internet. According to reports, the internet penetration is only 25 percent in the region but it showed great improvement during the time between January 2014 and March 2015. Analysts say that it grew by a massive 414 percent. Analysts also predict that the increase in sales of smart phones and tablets has increased the usage of internet.
Netflix posted on its official website that it has expanded its global footprints in almost 81 countries throughout the world and has more than 65.6 million subscribers to its online video content service. If we talk about the Asian region, then Netflix recently announced its expansion plans in Singapore, South Korea, Hong Kong, and Taiwan by 2016. As of now, it only operates in Japan.
According to Yahoo! Entertainment (Singapore), it reported, “Netflix's expansion into Cambodia won't be such a breeze as there are two other similar services eyeing the market – Malaysia-based iflix and Singapore-based HOOQ. iflix, which is already launched in Malaysia, Philippines, Vietnam and Thailand, also has Cambodia, apart from, Indonesia, on its list. The company, touted as Asia's on-demand streaming media service, aims to penetrate the Cambodian market by mid-2016.”