Netflix to expand into Italy, Portugal in October

Netflix expands into Italy and Portugal this October as it continues its international expansion.

The streaming video provider had already announced plans to begin offering its service in Spain as well as its plans to enter Japan this fall.

Netflix aims to cover the world by the end of next year -- it's already in 50-plus countries -- although that may mean forging partnerships to enter some countries such as China.

International expansion is expected to gain Netflix about 1.9 million subscribers during the second quarter of this year, the Los Gatos, Calif.-based company said in April.

Netflix has more than 62 million subscribers worldwide -- the U.S. accounts for two-thirds of that with 41 million customers. The service, which streams movies and TV shows over high-speed Internet connections, costs $9 per month in the U.S. Prices vary in other parts of the world.