Nov 18, 2014 6:09 PM

Netflix expanding to Australia, New Zealand

The Associated Press

LOS GATOS, Calif. (AP) Netflix says it plans to expand into Australia and New Zealand in March.

The online movie and television provider said Tuesday that details on pricing will be available later.

The Los Gatos, California-based company has about 53 million subscribers in the U.S. and internationally. It grew to Canada in 2010, expanded to Latin America in 2011 and in 2012 began rollouts in European countries.

In the most recent quarter, subscriber growth fell short of company forecasts because of a price increase in the U.S., and Netflix is dealing with tougher competition from Amazon and Hulu. HBO is also planning an Internet package in the U.S. next year.

Shares of Netflix Inc. fell 11 cents to close at $381.03 Tuesday. The stock is up 3.5 percent this year.


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