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Netflix targets Europe, hits 44m subs

US subscription VoD service Netflix has announced plans for “a substantial European expansion” in 2014, as its total number of subscribers increases to 44 million worldwide.

The Californian streaming giant added four million new users globally in the last three months of 2013, with 2.3 million new customers in the US alone.

The company, which reported its full-year results this week, also reported a jump in net profits to US$48m in the fourth quarter from US$8m for the same period a year ago.

In a letter to shareholders, Netflix CEO Reed Hastings wrote: “We plan later this year to embark on a substantial European expansion.

“Our success this year in international net additions and shrinking contribution losses confirms our belief that there is a big international opportunity for Netflix.”

Netflix has already launched in the UK, Ireland, The Netherlands and Nordic territories, but the SVoD service is yet to roll-out in major European territories such as France and Germany.

In December, Netflix execs reportedly met with French government officials and after conducted similar discussions in Germany.

The company’s US membership stands at approximately 33.42 million and is projected to reach 35.67 million by the end of the first quarter 2014. The firm is also present in Canada and Latin America, which has proved more challenging.

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