Japan is the second-largest home entertainment retail market in the world, and Netflix is about to plunge into it. As it readies for its September 2 Japanese launch, Netflix has signed a key partnership with SoftBank Corp.
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The agreement with SoftBank lets customers sign up for Netflix at the company’s retail storefronts and also enables them to pay their subscription fees as part of their SoftBank phone bill. The agreement is significant in part because it means SoftBank is favoring Netflix over its own Uula streaming service.
SoftBank president Ken Miyauchi praised his company’s new partner in a statement:
“[Netflix] is distinctively different from regular video streaming firms, as its approach is very scientific,”
Greg Peters, chief streaming and partnerships officer at Netflix, said the following about the launch:
“Now, we have a shared dream to work together … to find those amazing stories around the world, create incredible new experiences and to deliver them to consumers around the globe and here in Japan,”
Is Netflix going to be big in Japan?
[via Home Media Magazine]
This deal has been in the works for a while. I wonder why Netflix stock dropped so much last week?
NFLX stock is down about 30% since its peak, and will probably drop some more as the ‘over-correction’ continues.
@ ~$100. a share, NFLX is still a good buy, as fundamentally, its streaming business continues to grow subscribers and its original exclusive content likewise has a lot of upside potential.