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Netflix (NFLX) to Focus More on Local Content in Poland
Streaming giant Netflix, Inc. (NFLX - Free Report) is boosting its service in Poland by turning to the local language. Per media reports, the company will now be offering more content with Polish subtitles or dubbing for the local market. In addition, Netflix will also be producing some original shows in Polish.
The streaming service was launched in Poland in Jan 2016 as a part of the company’s global expansion initiative. But the service has been gaining popularity in this European country. A report from Reuters stated that Netflix has already about 80% of its content with Polish subtitles or dubbing.
Poland is one of the few places that have a broad market for TV series and originals. However, the demand for the ones in English language is low. The latest move appears to be a good strategy for Netflix as it strives to boost its subscriber base internationally.
As CEO Reed Hastings comments "We always knew the Polish people had a big appetite for great entertainment”. He also went on to say that “Now we know it and we're delighted to offer a more localized Netflix experience in Poland that will continue to grow with great TV shows and movies from here as well as around the world.”
Even though emphasis on offering local content is a good strategy, it definitely isn’t a cheap option. Such investments do weigh on the company’s profitability in the near term. It appears that the company will have to find a balance between rising costs and the need to differentiate its offerings, especially as competition from the likes of Alphabet’s Google (GOOGL - Free Report) , Amazon (AMZN - Free Report) , Hulu and others mount.
Currently, Netflix carries a Zacks Rank #3 (Hold). A better-ranked stock in the tech space is NetEase, Inc. (NTES - Free Report) sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NETFLIX INC Price and Consensus
NETFLIX INC Price and Consensus | NETFLIX INC Quote
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