Netflix Nearing Russia Launch (Report)

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Netflix CEO Reed Hastings

The streaming video giant, which has so far announced 2016 launches in South Korea, Singapore, Hong Kong and Taiwan, will initially offer its service on smart TV sets in Russia.

Netflix is planning to launch in Russia as early as this month, according to a report in Russian newspaper Izvestia.

The streaming video giant, led by CEO Reed Hastings, has said it wants to have a global presence by the end of 2016, and has been looking at possible ways to offer its service in Russia.

The report said it will initially be offered in the country on smart TV sets, according to English-language summaries of the story.

Netflix couldn't immediately be reached for comment.

“We hope that there will be more licensed content in Russia, and with the advent of Netflix people will start to get used to the consumer subscription model,” the newspaper quoted LG Electronics smart TV manager Vitaliy Svistunov as saying.

Last year, Netflix launched in such markets as Japan, Australia, Spain and Italy. For early 2016, it has so far announced launches in South Korea, Singapore, Hong Kong and Taiwan.

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