Netflix Expands International Presence, Opens Toronto Hub

 | Feb 19, 2019 09:15PM ET

Netflix (NASDAQ:NFLX) is expanding its international production facility. The company recently announced that it is leasing two studios, Cinespace and Pinewood, in Toronto, which will provide space of almost 250,000 square feet, including eight stages.

Per Reuters, the studios will work on production of horror anthology series, Guillermo del Toro Presents Ten After Midnight and movie, Let It Snow.

Notably, the company opened its first international production hub to develop Spanish language content in Madrid last year. The company also opened office in Paris, its third in Europe after Amsterdam and London.

Expanding Local Content Aids Netflix

Netflix’s unwavering focus on augmenting local content strengthens its competitive position. The investments in local content have been a key catalyst behind the surge in international revenues that soared 35.8% year over year to $2.11 billion in the last reported quarter.

Although China remains elusive to Netflix, the company is expected to benefit from increasing presence in international markets. The company has big plans for India, with the country’s upcoming slate for 2019 including 12 local language original series and 20 local language films.

Netflix has plans to order original shows from Africa in 2019. The streaming giant has already forayed into Nigeria, the world’s second-biggest movie industry by volume, after purchasing worldwide rights to Lionheart.

Netflix, Inc. Revenue (TTM)

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