Netflix has identified its next foreign market. The popular video service revealed on Wednesday morning that it will roll out its premium streaming platform through Norway, Sweden, Denmark and Finland later this year.
Based on Netflix's quarterly report Tuesday, you'd expect investors to be happy: Revenue climbed nearly 13% to hit Wall Street's predictions, profits beat targets, and new streaming accounts were soaring. So how come the market gave a thumbs down to its stock?
Netflix hopes its latest move doesn't turn out to resemble a British comedy. The video buffet operator introduced its streaming service in Ireland and the U.K. on Monday. And while overseas expansion is old hat for Netflix, this time, the challenges are bigger.
Amazon.com on Thursday announced it is buying Lovefilm, a European home-video distributor that some have called the Netflix of Europe. The deal will give the world's largest online retailer a stronger foothold in digital-video distribution. Will it buy Netflix next?