Shares of Netflix, Inc. (NFLX) continue to surge in premarket trading on Friday. Shares have gained momentum, higher by 15 points to $601.85, following a Bloomberg report that said the video streaming company is is in talks with Chinese online broadcasting firms backed by Alibaba’s (BABA) founder Jack Ma and other possible partners about bringing its content to China’s booming online video market. The publication said Netflix is seeking a partner that has licenses for content on all devices, including mobile phones, computers and set-top boxes.
The news comes after Netflix, which made a big push into several European markets last year, said it plans an aggressive global push as subscriber growth slows in the U.S.
The Street agrees that international expansion is key for Netflix if it is to hit its growth targets. At its last quarterly report, Netflix said that it added a record 4.9 million new subscribers globally and that of its nearly 60 million streaming subscribers worldwide, nearly 20 million are outside the U.S.