Netflix (Nasdaq: NFLX) has signed a multiyear licensing deal with Twentieth Century Fox Television Distribution that will expand its nascent streaming offering in Latin America.
The company today said the deal, terms of which were not disclosed, includes all past seasons of 24, Prison Break, The X-Files and Arrested Development, which will be available beginning July 15, as well as current and past seasons of How I Met Your Mother, Glee and Bones.
The studio also is making some of its film catalog available, including Gentlemen Prefer Blondes, Wall Street and Office Space, with more films and TV series to be added over the next few years.
Netflix rolled out is streaming service to 43 Latin American and Caribbean countries, including Brazil, in September. It has doubled the amount of content available in the region, as well as increased the number of devices that can be used to view content, since then.
In April, Netflix rolled to its first loss in eight quarters, largely, it said, due to the cost of international expansion. It also operates in Canada and the U.K and Ireland. The company said it expects that business to turn the corner soon, although its business in Latin America, because of a number of factors, might take longer.
"Latin America presents unique infrastructure challenges relative to our other markets; namely, low device penetration, under-developed Internet infrastructure and relatively low credit card usage as well as general consumer payment challenges for ecommerce," CEO Reed Hastings wrote in an April 23 letter to shareholders. "Our revenue and membership is growing in Latin America, and we are rapidly learning. The odds of us building a large, profitable business in Latin America are very good, but it will take longer than we initially thought."
For more:
- see this release
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