For those who are confused as to why Netflix is unable to stream some of its original content in Australia and New Zealand, you're not alone. But the explanation is quite simple: Netflix doesn't actually own any of its original content.

Instead of producing its original content, Netflix simply signs an agreement for exclusive streaming rights to a production, as well as a first-run window agreement. After that window expires, however, the production company is free to license the content to anyone, including home video distributors and international networks and streaming services.

Such is the case with House of Cards and other early Netflix originals. The company bought global rights for more recent series like Marco Polo, though.

That stands in contrast to Time Warner (NYSE:TWX) subsidiary HBO. HBO produces its originals itself, which gives it complete control over where those series end up. When it expands internationally, its original content is the key for keeping its costs low. Comparatively, Netflix's costs to expand internationally include thousands of new content-licensing contracts, which drive profits in those markets down into negative territory.

Because Netflix doesn't hold the international rights to many of its originals, those rights are often bought by other networks or streaming services in international markets well before Netflix even lays plans to expand into those markets.

As such, House of Cards fans in Australia and New Zealand have been getting their fill from Showcase (a premium cable network in Australia), TV3 (a nationwide broadcast network in New Zealand), and Lightbox (a Netflix analog in New Zealand). With many potential subscribers having viewed its original content already, it decreases the appeal of a new Netflix subscription.

freitasm: Lightbox had House of Cards. If they don't have now it's a development.