América Móvil launches Netflix rival

Latin America’s largest telco América Móvil is taking on Netflix with the launch of a cut-price programme streaming service.

The Clarovideo service has rolled out in Mexico and undercuts Netflix with a monthly subscription fee of Peso69 (US$5.32).

Netflix, meanwhile, launched last year and is priced at Peso99.

In its latest financial results Netflix said it had over one million subs in the region, but said problems processing payments were holding back subscriber growth and that it will take longer than originally expected to reach breakeven.

América Móvil, the telco run by Carlos Slim, already has a streaming service in Argentina and Colombia and reportedly plans to have Clarovideo launched in Brazil in the first quarter of next year and region-wide by end-2013.

América Móvil already offers a free streaming service, Uno TV.