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The international market for streaming online video is a hot commodity. Last week I reported YouTube was heading north to Canada with its streaming film rentals. Plus, Hulu branched out its service into Japan. And now Netflix is firmly opened for business in Mexico, Latin America and the Caribbean.

Netflix made the announcement two months ago, but officially launched their streaming service in Brazil Tuesday, and plans to spool out to 43 more countries in Latin America and The Caribbean over the next week, with the final launch done by September 12, 2011.

Netflix is giving Brazilians a special pleasure for being the very first new Latin America customers. Netflix is presenting them with a free one-month trial of the service.

Growing internationally is a smart move because the competition is getting fierce in the U.S. Amazon and YouTube are offering streaming video. It’s hard to tell what will happen with Hulu since it is up for sale.

Latin Americans do want newer content, just like Americans. I am sure that the new customers are delighted to at last have access to Netflix and its existing content.

It will be interesting to see how Netflix performs in the Latino countries. If all goes well, I am sure we will see more international expansion from Netflix. I just hope they can keep track of all the licensing deals involved with all the different countries that they will be importing movies.