Netflix is extending its services in Latin America and the Caribbean, following through on a plan that marked its goals for global expansion.  This will provide instant and unlimited streaming for movies and TV shows to connected devices such as computers, smartphones and game consoles for a monthly rate, which was recently increased to the dismay of millions of consumers.

Today Netflix launches in Brazil, and another 43 countries in Latin America and the Caribbean by September 12.  Netflix’s streaming service will be available in Brazil, Argentina, Paraguay, Uruguay, Bolivia, Chile, Colombia, Ecuador, Peru, Venezuela, Mexico, Central America, and Caribbean with corresponding monthly subscription prices.

“We are excited to be bringing Netflix to Latin America and the Caribbean,” said Reed Hastings, co-founder and Chief Executive Officer of Netflix. “People throughout the region are online in ever-greater numbers and they love movies and TV shows. We are proud to bring them the Netflix experience of instantly enjoying as many movies and TV shows as they want, when they want for one low price. “

Netflix has been able to improve the entertainment experience in the North American homes by giving its subscribers the convenience and wide range of options for movies and TV series.  The popularity of Netflix in Canada and the United States has earned the company 25 million members as of this year.

Just last month, Netflix announced its plans of heading to Spain and Great Britain in the first half of 2012.  But Netflix, even as it reaches around the globe, is seeing a great deal of direct competition.  This is where the importance of connected devices comes into play. Earlier reports noted how Netflix’s market is benefiting from game consoles in particular, which are said to be the most used connected devices.  Ironically, the effect of having a “not so good” economy has been a “good” opportunity for Netflix.

Earlier this year, Netflix has started to experience threats of decreasing their members due to their price hike increase which already took effect last September 1.  However, this possible loss of Netflix’s members would probably mean opportunity gain for Redbox.

“Specifically, 8% will use Redbox more because they are quitting Netflix and plan to replace those movies with DVDs from Redbox, while 16% are switching to streaming-only on Netflix and plan to replace the DVDs they were receiving from Netflix with DVDs from Redbox,” senior analyst Michael Olson wrote in his research.

On the other hand, Netflix’s close rival Hulu has just lost one of its key bidders, DirecTV, leaving Amazon, Yahoo, and Dish Network in the list of possible buyers.  Bids for the Hulu sale is said to reach as high as $2 billion, wherein Google is being rumored to win the bid.

With the growing users and demands of connected devices, the streaming world would also benefit end users, granting more options for the consumer.  What will be interesting to watch is this trend’s affect on culture as well as the economics of the market, as consumers are in some ways empowered by on-demand services and growing service selection, though dominance in this industry will only seek out new ways to monetize and price-control the market.