Photo: JD Lasica/Flickr
Netflix CEO Reed Hastings said the company’s going to lose $70 million this quarter on its international expansion in an interview with paidContent.One of the major phases of the international rollout began today, with Netflix launching in the UK and Ireland.
He also explained that these losses are why the company raised $400 million last year.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.