Netflix announced the DIY device called The Switch. (Photo : Reuters)
The goal of Netflix Inc. to enter the Chinese market by 2016 might possibly be delayed, as announced by the movie and TV streaming service provider's CEO, Reed Hastings.
"So China, again, we still have some things to figure out, so I suppose it's possible," Hastings remarked during a press conference on Wednesday, stressing however that he is "pretty confident" for the rest of their target.
The firm is currently moving aggressively to make a foray into new regions and hit its plan to reach 200 before 2016 ends.
Netflix recently reported that its subscription base worldwide has reached over 65 million, increasing its shares by over 9 percent.
According to the Netflix CEO, their biggest challenge is securing government clearance and partnerships. China has been known for imposing strict media regulations.
"We're trying to or exploring a number of different options for offering Netflix in China. Until you get the wide range of government permissions that you need, you don't know until you've gotten them," Hastings stated.
"We've got the content. We will be ready to go then. We are confident consumers will like the service," he further said, adding that what they have for China is a "modest" streaming service plan.
For the third quarter of 2015, the firm is launching its services in Japan, which was described by Hastings as "very brand sensitive."
However, he noted that "it may be one of [their] best markets in the long term because when the Japanese society embraces a brand it is a very deep connection."
Netflix plans to move next into Spain, Portugal and Italy for the last quarter of the year.
