Netflix to launch streaming service in Nordic countries

Wed Aug 15, 2012 9:11am EDT

Aug 15 (Reuters) - Netflix Inc will launch its video streaming service in Norway, Denmark, Sweden and Finland before the end of the year, the company said in a statement.

Netflix's Nordic push comes after its Europe debut earlier this year with launches in the United Kingdom and Ireland. However, the movie rental and video streaming company's move to expand globally has taken a toll on its profitability.

In an earnings call last month, Chief Executive Reed Hastings said the company would lose money in the fourth quarter as it expanded to a new market.

It had 3.6 million international streaming subscribers at the end of the second quarter and had services in Latin America, the United Kingdom and Ireland, apart from the United States and Canada.

The company did not give a specific launch date or the expected pricing for its services in the Scandinavian countries.

Netflix shares were up 34 cents in premarket trading. They had closed at $61.76 on Tuesday on the Nasdaq.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.