Netflix seeks more European markets

Netflix will expand into Germany, France and four other European countries later this year as the internet video service tries to build an international following that might eventually surpass its US audience.

The additional markets will extend Netflix’s reach into nearly 50 countries, including 13 in Europe.

Besides Germany and France, the latest countries on Netflix’s list are Switzerland, Austria, Belgium and Luxembourg. The Los Gatos, California, company entered Europe in 2012 when its internet video service debuted in the UK and Ireland.

Earlier this year, Netflix disclosed its plans to sell its service in more European countries without identifying where they would be.

The company is still not saying which month its service will be available in the new markets or how much it will cost. Netflix recently raised its internet streaming prices for new customers by about $1 a month around the world.

With the increase, Netflix charges $9 (€7) a month for unlimited video streaming in the US. The company froze rates at $8 a month for two years for subscribers before the May 9 increase.

Netflix ended March with 35.7 million US subscribers and an additional 12.7 million customers in the rest of the world. The company has set a long-term goal of 60 to 90 million US subscribers and more than 100 million internationally.

The overseas push has been costly so far for Netflix, which has amassed international losses of more than $800m (€583m) since it ventured outside the US for the first time in 2010.

The company’s US operations, including a steadily shrinking DVD-by-mail service, have continued to churn out profits that so far have more than offset the international losses – last year Netflix earned $112m (€81m) despite sustaining €274m (€199m) in international losses.

Netflix expects to start eking out a profit in its existing overseas markets by the end of this year.