Netflix Inc. has entered into the Canadian market with instant streaming video.

Share story

Netflix Inc. has entered into the Canadian market with instant streaming video.

The movie rental service said Wednesday that this is the first time it is expanding outside the U.S.

The company, based in Los Gatos, Calif., also announced Canadian license agreements with major motion picture studios such as Lionsgate, MGM Studios, Paramount Pictures, Sony Pictures Entertainment, among others. It also struck deals with top Canadian distributors Alliance Films, Maple Pictures, eOne and Mongrel.

The company said the service is available in English for now but French will be added in the future.

Most Read Business Stories

Unlimited Digital Access. $1 for 4 weeks.

Shares of Netflix rose $7.04, or 4.8 percent, to $154.24 in afternoon trading Wednesday. Earlier the stock hit a 52-week peak of $156.67.