Netflix to ramp up European expansion

|By:, SA News Editor

Netflix (NFLX) intends to enter France, Germany and four other European countries later this year, adding to online movie and TV subscription services that the company provides in the U.K., Scandinavia and the Netherlands.

Netflix will be jumping into crowded markets, with Amazon's Lovefilm set to be a major rival in Germany, while France has tough regulation.

The other European countries that Netflix intends to launch in are Austria, Switzerland, Belgium and Luxembourg.

Netflix's investment in expanding overseas means its international unit is likely to continue making a loss.

Netflix has 48M subscribers in over 40 countries, with over 12M of them outside the U.S. (PR)