American streaming service Netflix wants to be in one third of all Australian homes within seven years.

The company has rolled out its Australian library of on demand films and television, joining the growing list of online streaming services, including Nine and Fairfax Media’s Stan and Foxtel’s Presto.

Local subscribers initially will get access to a smaller range of programs and films than users of Netflix in other parts of the world, though that range will grow, the company says.

CEO and founder, Reed Hastings, said Netflix will be a long term player in the Australian market, and aims to gradually increase its reach to about three million households.

“In the US, it took us about seven years to get to one third of households subscribing, and that’s success for us here if we can do that,” he told AAP on Tuesday.

“We will break even along the way, we will turn profitable and it will be a success.”

Netflix made a net profit of $US267 million ($A338.32 million) in 2014.

AAP