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Netflix to launch streaming service in Scandinavia

  • Netflix is set to launch its video streaming service in Norway, Denmark, Sweden and Finland by the end of the year.

    The move follows launches in the United Kingdom and Ireland earlier this year.

    However, the movie rental and video streaming company's global expansion plans have hit its profitability.

    In an earnings call last month, Chief Executive Reed Hastings said the company stood to lose money in the fourth quarter as it spread to a new market.

    Netflix boasted 3.6 million international streaming subscribers at the end of the second quarter, with services in Latin America, the United Kingdom and Ireland.