Hong Kong immigration perspective on doing business in Hong Kong: According to foreign media reports, the American online video streaming service provider Netflix announced on its official website that it will enter the markets of Hong Kong, Taiwan, Singapore, and South Korea early next year.
Netflix stated that it will provide movies, television series, and content suitable for children. Netflix will subsequently announce additional details regarding service pricing and programming. As of now, Netflix has not provided further comments.
Headquartered in Los Gatos, California, USA, Netflix is accelerating its plan to complete a global expansion by the end of next year. This year, the growth prospects of Netflix have made it one of the best-performing stocks among the S&P 500 index components.
Currently, Netflix has launched services in 50 countries and regions worldwide, with a total of over 65 million subscribers. However, due to the impact of increasingly intense market competition, Netflix's stock price has declined in recent weeks.
Time Warner's HBO, Hulu, and Amazon have all increased their online video content this year, and Apple is also considering launching its own video streaming service. Netflix launched its service in the Japanese market on the 2nd of this month, with a minimum monthly subscription fee of $5.40.
Netflix's stock price fell 3.9% in regular trading on the Nasdaq stock market on Tuesday, closing at $94.95, marking the seventh consecutive trading day of decline for the company. Even so, Netflix's stock price has still accumulated a gain of 95% so far this year.