Netflix is on a roll. It's launched high-profile and critically acclaimed shows, and the stock is up more than 140 percent in a year.
Where does it go from here? Abroad.
The on-demand Internet streaming service is about to launch one of its biggest international expansion campaigns yet.
"We plan later this year to embark on a substantial European expansion," Reed Hastings, CEO of Netflix, said in a letter to shareholders recently.
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"It's a very strategic part of their business model," said Tuna Amobi, a media and entertainment equity analyst at Standard & Poor's. "A lot of international markets are growing relatively fast and it presents more compelling opportunities."
Canada became the first foreign country to have live streaming on demand in 2010. Netflix entered the Dutch market in 2013; Latin and South America and the Caribbean in 2011; and the United Kingdom, Ireland and countries in Scandinavia in 2012. (It is now streaming in more than 40 countries.)
What's left? The rest of Europe, Asia, Africa and Oceania.
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Demand for Netflix outside U.S. borders is growing. During the third quarter of 2013, Netflix registered more international subscribers than domestic ones for the first time since its launch in the U.K. and Ireland in July 2012.
"There are only so many people in the United States," said Anthony Wible, media and entertainment analyst at Janney Montgomery Scott. "The rest of the world is far bigger and the addition of domestic subscribers will start to slow down at some point."