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Netflix Sets Sights on Hong Kong, Three Other Asian Markets

Plans To Enter Hong Kong, Taiwan, Singapore and South Korea Early Next Year

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Netflix plans to enter Hong Kong, Taiwan, Singapore and South Korea early next year as the online video-streaming company races to complete a global rollout.

Netflix will begin by streaming a selection of popular TV shows, movies and kid-friendly programming. Most will come with local subtitles, and further details such as pricing will be disclosed later, it said in an e-mailed statement Wednesday.

The Los Gatos, California-based company only started service in Japan last week, and it plans to complete a global expansion by the end of next year as it pursues sources of revenue beyond its home market. Its growth prospects have made the stock the top performer in the Standard & Poor's 500 Index this year, with subscribers exceeding 65 million in 50 countries.

Still, the shares have pulled back in recent weeks, in part due to concern over increased competition for viewers' dollars. Time Warner's HBO, Hulu and Amazon have all boosted their online offerings this year, while Apple is considering its own video-streaming service.

-- Bloomberg News