Netflix is accelerating its global expansion plans, after revealing it aims to be available in 200 countries within two years.
The streaming video service is currently available in around 50 markets, with Australia and New Zealand set to be added in March, and its subscriber base now exceeds 57 million.
In a call with analysts, Netflix chief executive Reed Hastings said the pent-up demand in new markets was so great that it can afford to “complete” its global expansion within two years while “staying profitable”.
Hastings added that emerging markets, “where television is not as advanced as it might be”, provide an ever greater opportunity than mature markets, where consumers have more choice.
Netflix has come under increasing pressure from rivals such as Amazon and Time Warner’s HBO and CBS, each investing in on-demand content services.
Famous for drama serials such as ‘House of Cards’ and ‘Orange in the New Black’, in September the company revealed it is to release its first feature length film, a sequel to martial arts movie ‘Crouching Tiger, Hidden Dragon’.
Netflix has teamed up with the Weinstein Company for the sequel to Ang Lee’s Oscar-winning action film, which will be shown on Netflix and in IMAX cinemas in August 2015.