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Video streaming service Netflix is expanding rapidly around the globe. The next countries to get...

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Video streaming service Netflix is expanding rapidly around the globe. The next countries to get Netflix are Italy, Spain, and Portugal. Similar to Netflix's other European offerings, service will be offered at a price of 8.49 per month, which converts to U.S. $9.59 during the time of expansion. Calculate the annual market sales potential for Spain in euros and U.S. dollars. There are 18,578,100 television households in Spain, with 70 percent having high-speed Internet. Assume 55 percent of the households with high-speed Internet are willing and able to purchase the service and would purchase one subscription at an average price of 8.49 per month ($9.59). Hint: Use the chain-ratio method in the Market Potential and Sales Estimates section of Appendix 3 in your textbook. The number of households in the market can be estimated as (Round to the nearest whole number.) The quantity purchased by household per year is . (Round to the nearest whole number.)

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