According to TCA Financial, a week after seeing shares in the company he helped found plunge on subscriber growth, Netflix’s CEO Reed Hastings has confirmed that the future of the company lies in locally produced, globally distributed content.

Speaking at a pay-tv operators summit in Bali, Indonesia, Hastings said the streaming service would commit to the production and commission of international programming that would be distributed to all markets in which it operates simultaneously. His comments come a week after Netflix stock fell sharply on worse-than-expected guidance for subscriber growth in the current quarter.

“Netflix has invested heavily in original programming and has made some pretty expensive commitments to production studios. They need to grow subscribers quickly if they’re to bring in the kind of revenues necessary to service those contractual obligations,” said Colin Phipps, chief economist at China-based broker dealer, TCA Financial.

Earlier, as part of a bid to remedy slowing subscriber growth in its home market, Netflix launched its service in 130 countries bringing limited access to its programming to a far greater audience. It is still engaged in talks that could potentially see its service rolled out in China but little headway has been made since it announced its intentions last year.

“Netflix needs to address certain aspects of the service it provides in countries where English isn’t widely spoken. Many of the programs available on its service only have subtitles in English or, occasionally, in Chinese. They need to address these issues if they are to reach maximum potential in overseas markets,” concluded Phipps.

About TCA Financial:
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