Netflix, which revolutionised how Americans watch TV and has expanded around the globe, will launch in Australia and New Zealand in March.
Foxtel has attempted to beat Netflix to the punch, unveiling its rival Presto TV subscription streaming service with the Seven Network on Sunday.
“In Australia we will face strong competition this year, and look forward to getting started later this quarter,” Netflix CEO, Reed Hastings, and CFO, David Wells, wrote in a statement to shareholders on Tuesday.
Netflix announced its fourth quarter results on Tuesday.
Globally, Netflix added 4.33 million members versus 4.07 million in the previous corresponding period.
The result was above the four million the California-based company forecast.
Netflix also reported a fourth quarter net profit of $US83.4 million ($A90.24 million), boosted by a $US39 million tax accrual release.
The result was a jump from the $48.4 million net profit it posted in the same period a year earlier.
“In 2014, we added a record 13.0 million new members, compared to 11.1 million in 2013, bringing our global total to 57.4 million members,” the executives wrote.
Australia is one of the last major markets Netflix has entered.
“In late Q1 (first quarter), we’ll be launching Netflix in Australia and New Zealand,” Hastings and Wells wrote.
“There are numerous local competitors and a thirst for movies and TV shows from around the world.
“Later in the year, we’ll launch in additional major countries, in keeping with our global strategy.”
Netflix describes itself as the world’s leading internet television network with service in nearly 50 countries.
For a monthly fee, subscribers can watch, without commercials, as many of the Netflix library of TV series, documentaries and feature films as they want on nearly any Internet-connected screen. Members can play, pause and resume watching programs.