Commenting on the development, José María Álvarez-Pallete, executive chairman of Telefónica, said: “This agreement is a big step forward in Telefónica’s bet on open innovation and collaboration with leading companies around the world”.
“We want to offer our customers the most compelling video offering possible, whether it’s our own content or third party providers. The partnership with Netflix will significantly enhance our existing multichannel video platforms.”
Reed Hastings, Netflix co-founder and CEO, added: “Over the next several years, our partnership with Telefónica will benefit millions of consumers who will be able to easily access their favourite Netflix shows, documentaries, stand-ups, kids content and movies across a range of Telefónica platforms.
“Making Netflix available on Telefónica’s familiar, easy-to-use TV and video platforms enables consumers to watch all the content they love in one place.”
The global partnership was announced through a shared video by Hastings and Álvarez-Pallete on twitter.
Each country will communicate the commercial details as and when they are available in their markets.
First launches in Latin America will be announced in the next few weeks, while the launch in Spain is planned for the end of this year.