Netflix to Hit 43 Latin American and Caribbean Countries in 2011

Announces plan to launch internet movie and TV streaming service in region later this year
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Netflix is flying south of the border, announcing plans to offer an unlimited streaming video service to 43 countries throughout Latin America and the Caribbean, including Mexico, later this year.

Netflix's shares climbed about 5% in Tuesday morning trading to around $13.51 per share.

Netflix -- which currently offers service in the U.S. and Canada -- had previously told investors it expects to incur $50 million to $70 million in operating losses in the second half of 2011 related to its second international launch outside of Canada.

The company did not announce specific timing, pricing or content selections. When it launches, Netflix customers across Mexico, Central America, South America and the Caribbean will be able to watch a "wide array of American, local and global TV shows and movies" on their TVs through a range of Netflix-enabled devices, as well as on PCs, Macs and mobile devices, the company said.

Click here to read the full story at Multichannel News.

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