Telecom Italia inks content deal with Netflix

MILAN (Reuters) - Telecom Italia will offer TV series and movies from Netflix to its clients after a deal the Italian phone group said would help spur demand for faster Internet in the euro zone's No. 3 economy.

Telecom Italia is boosting investments to build modern fiber optic networks and sealing deals with content providers, part of a search for new sources of income as its traditional phone services lose appeal amid rising online competition.

TV clients equipped with a set-top box provided by Telecom Italia will access content of fast-growing Netflix. No financial details of the partnership agreement were disclosed in a joint statement on Wednesday.

At the launch, the Netflix offering is to include series such as Daredevil and Sense8, documentaries and stand-up comedy specials, plus a selection of programs for children.

Telecom Italia, in which French media group Vivendi became the biggest investor last month, previously reached a content deal with Sky Italia and is open to agreements with other players.

Last month, Netflix unveiled plans to expand into Italy and Portugal later this year as part of a bid to bring the popular American TV and film streaming service to some 200 countries within two years.

(Reporting by Danilo Masoni; Editing by Mark Heinrich)