The US-listed streaming service launched in the region in 2011. At that point it was its first service outside North America.
It has had issues with payment methods in some Latin territories, but has introduced gift-card and other new payment systems including branded products.
CEO Reed Hastings said at a local press event this week that the OTT service has now surpassed the five million customer mark.
He did not break out how many were paying subs, but the total is a sizable proportion of the company’s international customer base.
Its most recent quarterly report showed Netflix has 15.8 million international customers, 14.4 million of which were paying subs. The company is forecasting 18 million international customers – and 16.5 million paying subs – by the end of the next quarter.