Online streaming giant Netflix is exploring the opportunity for local production in Argentina, the Buenos Aires Herald reports.
Netflix began to challenge the dominance of cable TV in 2013, when it significantly expanded its online streaming service throughout the world. Speaking at a lecture at the Four Seasons Hotel in downtown Buenos Aires, the company's CEO and founder Reed Hastings explained that Argentina was the first Spanish-speaking country that Netflix launched in.
"We have a strong interest in Argentina, we are looking for local projects, but always with an emphasis on a global reach," he told the audience. "The stories must have an international content that may raise interest at global level."
Hastings also offered his predictions about the future of television. He believes that traditional TV will decline over the next 15 to 20 years as online streaming increases, and that while TV networks are striving to adapt and reinvent themselves to meet these changes, in the end they will have to turn to internet streaming if they wish to survive.
In recent years, cable TV companies and subscribers who questioned the staying power of companies such as Netflix have watched as streaming services strike deal after deal with major film companies.
Keen to stay ahead of the game, Hastings outlined the three components that he feels define the advantages of internet television over standard networks: consumers have more choice over what they watch and when they watch it (On Demand); content can be viewed on a range of devices, from TVs to laptops and smartphones; and finally, that users can personalize the service.
Although he was not explicit about using Argentina as a potential content developer, he emphasised its position as third in broadband services throughout Latin America. So with Netflix already expanding in Argentina, as well as Brazil and Mexico, it could certainly be one to watch.