Netflix Inc will launch its TV and movie streaming service in The Netherlands later this year, expanding its reach further into Europe, the company said on Tuesday.
Netflix boasts 29.2 million streaming subscribers in the United States and 7.1 million in international markets, delivering movies and television shows to Canada, Great Britain, Ireland, Scandinavia and parts of Latin America and the Caribbean.
The company generates profits in the United States and Canada, but has lost money as it expanded into foreign markets.
Netflix projects a profit of up to $149 million from its U.S. streaming business in the second quarter, and losses of up to $81 million from international streaming. Its U.S. DVD-by-mail business will add profits of up to $112 million, the company forecast in April.
The monthly subscription service, which delivers movies and TV shows over Internet, will offer content from Hollywood studios as well as local and global producers, Netflix said in a statement.
(Reporting by Lisa Richwine; Editing by Stephen Coates)