A screen grab shows the access to Netflix online as displayed on a television screen in Encinitas (Photo : Mike Blake / Reuters)
Netflix and Twentieth Century Fox have announced a new deal that will stream and bring new content to Latin American countries starting in July.
Under the Agreement, Fox-produced TV shows such as 24, Prison Break, The X-Files and Arrested Development will be available beginning July 15 and such films as Gentlemen Prefer Blondes, Wall Street and Office Space will come to Latin America on July 1. More Films and TV shows will be added during coming years.
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Netflix launched in 43 Latin American Countries in September 2011, despite questions about the short-term economic viability in the region. Netflix conceded that Latin American posed numerous issues as a potential market including lower income and the limited use of credit cards in the region. After all, credit cards are the main method of payment for subscribers.
Another issue that Netflix has found with the market is the limited broadband availability. For example, most of the 42 million internet users in Brazil have a connection speed over 500 kilobytes per second. In order to stream a movie through Netflix, at least 800 kilobytes are required.
Despite these negatives, consultant SNL Kagan projects that the number of Internet Users in Latin America will increase from 46.2 million in 2011 to about 107.3 million by 2020. Furthermore, the TV market is expected to grow by $23 billion by 2015 making Latin America a healthy prospect in the long-term.