Netflix Official confident that the Streaming Service will be successful in Australia
Despite the fact that Netflix will face tough competition on the Australian market, mainly from the Foxtel-Seven streaming service Presto TV, a representative from the US-based company recently stated that they are confident that the streaming service will be well received, because the business model “works.”
Netflix chief financial officer David Wells recently said he was confident that the Australian expansion will be a success, mainly because the company was able to overcome several challenges until now, including moving into non-English countries. In recent years, the company has expanded into Canada, South America, the UK and Europe.
“We feel like with the expansion in those set of markets (Canada and South America) and now with success in the UK, Nordic countries and The Netherlands, we feel pretty comfortable the model works,” Wells told the Morgan Stanley Technology, Media & Telecom Conference in San Francisco.
The Netflix official added that when doing due diligence on a potential new market, Netflix is interested in several factors, including the nation’s level of broadband penetration, the population’s consumption of online video, as well as residents’ wealth and ability to pay for subscriptions.