Netflix will be accessible for $8 a month to inhabitants who own credit cards and have access to speedier Internet. The content archive will incorporate titles like, for example, “House of Cards” and “Orange is the New Black” together with other original and labeled programs and motion pictures.
With only five percent of the Cuban residents having access to set broadband, as indicated by the World Bank, Netflix’s offer won’t increase the company’s profits tremendously. However, Netflix noted that it expects an increasing number of Cubans will gradually have the possibility to access its streaming service as Internet access enhances and credit cards become more broadly available. Also, from a symbolic standpoint Netflix’s move into Cuba demonstrates its intentions to grow internationally, even in nations with poor internet systems and various other challenges.
Netflix is currently involved in a gigantic worldwide development, hustling against Amazon, cable suppliers, and Google for worldwide viewers as its U.S. accounts are starting to increase at a slower rate.
In its last quarter, Netflix added 4.33 million accounts of 57.4 million aggregate subscribers in the 50 nations where it is accessible. Not so long ago, the organization reported plans to release a $1 billion bond on the market that it will use to back up the acquisition and development of more shows and expenses connected with worldwide expansion.
Netflix co-founder and CEO Reed Hastings made a few statements regarding the launch:
“We are delighted to finally be able to offer Netflix to the people of Cuba, connecting them with stories they will love from all over the world. Cuba has great filmmakers and a robust arts culture and one day we hope to be able to bring their work to our global audience of over 57 million members.”
Netflix started streaming its service in Latin America in 2011. Presently it has more than 5 million subscribers in the area.
So far, Cubans have had little exposure to this sort of American entertainment. The U.S. government has a floating balloon above an island in the Florida Keys that telecasts the democracy- supporting TV Marti network. The Cuban government continually blocks the transmissions.
The Castro administration firmly controls Internet access, only permitting select data to be accessed by its residents. However, the Cuban government has recently hinted that it intends to increase access.
Image Source: Latin Times