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Netflix Launches In The UK

By: Steve on January 9, 2012

Movie streaming platform Netflix launches in the UK this week, offering competitive subscription deals in hopes of luring customers away from similar services.

Netflix has attracted 20 million paying memebers worldwide since it began streaming movies and TV shows online in 2007 and has already struck deals with the BBC, Miramax and Lionsgate to provide content in the UK and is believed to be close to revealing streaming ventures with Sony, Disney, Paramount, Channel 4 and ITV.

Netflix chief executive, Reed Hastings, has already warned investors that the venture is expected to take more than two years to achieve profitability in Britain.

This will be due, in no small part, to the strength of the competition they face in the on-demand service market which includes BSkyB, Google-owned YouTube and Tesco’s Blinkbox service.

Netflix is offering a 1-month free trial for new customers (who can sign up via their Facebook Accounts) and will offer unlimited access to films and TV shows for a monthly fee of £5.99.

The UK online TV and movie market, which was worth £11m in 2007, is predicted to surge to £379m in the next year according to a report from Screen Digest.

Sources: The Guardian | The Press Association