Netflix boss Reed Hastings is hoping to find greater riches through a trade route to China.
Hastings, whose video-streaming service continues to add global subscribers at a respectable clip, told investors Tuesday he’s trying to amp up the 4.33 million-subscriber growth of the fourth quarter by cracking open the giant Asian market.
“We’re exploring the option,” the Netflix CEO said. “We need to get a license. If we go, it will be a modest investment.”
Netflix is also looking to roll out in other Asian markets, including Japan and South Korea, Hastings said.
If successful, Netflix would face competition from Alibaba’s Jack Ma, who is already making plans for a subscription movie and TV service for the Chinese market.
While the cost of expansion may be modest, the company said content costs are certainly not.
Netflix will raise at least $1 billion of long-term debt to help fund content costs, among other expenses.