Netflix set to launch its Canadian streaming video business

Netflix, which in June announced plans to launch its on-demand streaming video service across the border to Canada in the fourth quarter, apparently is ready to roll a little early, as in Wednesday, reports Reuters.

The news service quotes the Hollywood Reporter as saying Netflix CEO Reed Hastings would be in Toronto Wednesday to announce the service, which will be the first foray by Netflix into an international market. In June, Netflix said it would offer a streaming service only, no DVDs for now, of movies and TV episodes to computers and connected TVs.

The move, says Reuters, has set off a cascade of pricing cuts and content acquisitions by Canadian pay-TV providers as they get ready for the launch of not only Netflix, but Apple and Boxee as well.

Netflix has seen dramatic growth in its U.S. subscriber base, with more than 15 million households signed up to its DVD-by-mail service. The company says some 60 percent of its U.S. customers currently stream videos, and say that number is increasing.

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