Netflix and SoftBank To Tackle Japan $NFLX

The stream-on-demand provider Netflix is set partner with the Japanese telecom giants in a service launching on September 2nd. The service will mean that the Netflix service will now be available in the Japanese market.

The partnership will allow customers of SoftBank, which is one of Japan’s largest wireless carriers and internet providers, to pay for the service through their current existing SoftBank accounts. SoftBank will eliminate any hassle for its consumers by adding the Netflix monthly fee to the client’s SoftBank statement. Furthermore, SoftBank will begin pre-installing its smartphones with the Netflix app after October.

Netflix service is currently available in 50 countries and has 65 million users to date. Reed Hastings, Ceo of Netflix, has vision to provide the service to 200 countries by the end of next year. The Japanese expansion is the latest move executed by the Hastings, in completing his objective. Netflix has already expanded vastly in Europe and well as in Australia, with many estimating that the number of global users could top 100 million by the year of 2020.

Netflix is set to offer its Japanese consumers a tiered pricing structure starting at 650 yen per month for the basic plan, going up to 1,450 yen for the premium account, which includes ultra-high definition streaming.

This is Netflix first entry into the Asian market and it may find it difficult to compete against the streaming service Hulu, which boasts over 1 million users in the country.