Netflix rolls out Hong Kong site with bargain offers
Global streaming pioneer looks to make dent in local pay TV market with monthly prices as low as HK$63
Internet streaming pioneer Netflix has rolled out its over-the-top (OTT) service in Hong Kong for as low as HK$63 a month hoping to making inroads into the city’s pay TV market.
Hong Kong is among 130 new markets – which exclude the mainland - in which the company rolled out the service yesterday, taking the total to 190 countries.
OTT applications deliver services over the internet that bypass traditional distribution channels from telecommunications, cable or satellite network operators.
Netflix, which is currently in talks with fixed line broadband network service provider Hong Kong Broadband Network concerning a partnership to distribute its programmes, will fuel competition and hit hard other TV services in Hong Kong, analysts said.
Netflix is the latest entrant to the city’s fast growing OTT market following the launch of services by Beijing-based LeTV.
“The prices it offered are extremely competitive” said Harry Yuen, senior analyst at Bright Smart Securities. “HK$63 is even cheaper than a movie ticket.”
