Netflix the online video rental service is a successful and popular online entertainment provider that lunched its service in the USA in 2007 and in 2010 introduced its service to Canada. Now with the announcement on July 5th 2011 that they will be extending their online film and television subscription service to 43 countries, which will be in Central America, Mexico, South America and the Caribbean. This recent statement of entering into Latin America in 2012 illustrates that Netflix it is on track for its vision to provide a global service.
Netflix in Latin America will only have access to Netflix online streaming service. In Latin America it is estimated that in 2012 there will be 1.25 to 3.7 million and is predicted in the future to be 40 million broadband subscribers.
This business initiative by Netflix’s shows the growing importance that Latin America is to Hollywood. In 2010 film ticket sales fastest growing market was Latin America led by the Brazil & Mexico of which total box office sales revenue grew by 25% in 2010.
A date has not been set of the commencement of the Netflix service in 2012 nor have Netflix announced a price for the service but is expected to be comparable to the online streaming it charges presently in North America for a monthly fee of $8 a month.
Many expats that live part time in Costa Rica use the Netflix service when they return to the USA. This is welcome news to people that live in Dominical real estate and surrounding areas, as DVD rentals are only presently available in bigger towns in Costa Rica. This new Internet service will bring even more creature comforts to their residences in Dominical.