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Netflix to Launch Major Expansion

Tuesday, 05 Jul 2011 02:54 PM

Netflix announced today that it will be expanding online streaming-only service to 43 additional nations throughout Latin America and the Caribbean later this year, CNN reports.

This is the company’s second expansion into international markets after having entered Canada last year.

The new markets will allow subscribers to access Netflix content in Spanish, Portuguese, or English. They'll be able to watch "American, local, and global TV," Netflix said Tuesday.

The company said it expected $50 million in operating losses in the second half of the year but upped those numbers to $70 million—“which we are comfortable with given the size of the opportunity,” said a company spokesperson.

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