By Evan DeSimone
Netlix’s stock rose 8% to a record high yesterday in the wake of the news that the streaming giant would soon be expanding to Japan.
Netflix announced plans for a Japanese expansion earlier this year, targeted for the fall, but that expansion now has a hard launch date of September 2, according to a statement released by the company. The Japanese Netflix portal already has its own landing page and a Netflix branded twitter account, launched August 3, operating under the streamer’s social media umbrella.
Launched in 1997, Netflix’s first incarnation was as a web-based DVD rental service. In recent years, the company has pivoted most of its efforts into streaming video and original content.
Netflix is currently available in 50 global markets, with further global expansion planned. The company also plans to launch localized European portals in Italy, Portugal, Spain and Iceland in the coming months.
The Japan expansion is Netflix’s first foray into the Asian online video market. The company has also reportedly entered into talks with Chinese media companies about entering that country’s growing video market.