Netflix to launch service in Latin America

Netflix, the streaming video service based in Los Gatos, California is going to launch its service in 43 countries throughout Latin America and the Caribbean later this year. Netflix had launched the service in Canada last year and it is part of company’s plans to expand internationally.

According to Netflix, subscribers from Mexico, Central America, South America and the Caribbean will be able to access Netflix in Spanish, Portuguese, or English. The news sent Netflix (s NFLX) stock soaring this morning.

In a conversation earlier this year, Netflix CEO Reed Hastings told us that company was closely watching the growth of broadband around the world. At that time, when I asked Reed if the fiber deployments were going to be key to Netflix’s future international expansions, he declined to comment and said the company would share its global expansion plans in the second half of 2011.