Netflix announced that it will be expanding into Australia and New Zealand by March next year.
Users connected to the Internet in both countries will instantly be able to subscribe to the Internet TV and movie subscription service upon its formal launch.
Netflix made the announcement through a press release that is posted at the company's official website and confirmed what had been months of speculation within the media industry of Australia that Netflix will be doing a local launch.
The launch in Australia was widely anticipated, with holders of local content rights saying that Netflix had been in discussion with major studios prior to the launch.
While the rates that Netflix will be charging for Australian customers has not yet been revealed, the company promised a "curated selection" made up of popular TV shows and movies that can be watched in high-definition or 4K on hundreds of devices connected to the Internet.
Users in Australia will initially be allowed to sign up for a free trial that lasts for one month. After the trial, customers can then choose among the company's three-tiered pricing plans, which will include options for streaming standard definition, high definition and 4K ultra-HD videos to one screen or more.
Netflix's entry into the Asia Pacific is just a part of a massive expansion push for the company, which included a similar entry into Europe. Netflix launched in six countries, including Austria, Belgium, France, Germany, Luxembourg and Switzerland.
Netflix has been looking to expand beyond the United States to be able to increase its subscriber base. With the combined population of France and Germany currently at about 147 million, pushing into Europe has Netflix gaining access to a massive pool of potential customers.
Reed Hastings, the CEO of Netflix, said last year in a results presentation that the company was moving forward with a business strategy that will have it invest all the domestic profits that it had made into efforts to expand internationally.
With Netflix about to establish a base in Australia, it is placing itself in a position to be able to enter China, which one of the most lucrative markets not just in the Asia Pacific region but in the whole world.
The complete details on the Australian rates, programs and supported devices will be announced at a later time. However, Netflix did reveal that upon the launch of its service, it can be accessed through smart TVs, smartphones, tablets, computers, and several other devices that are capable of connecting to the Internet such as video game consoles and set-top boxes.