It's finally happening -- but it comes with a catch.

After rumours, speculation, and potentially accidental leaks, Netflix finally confirmed this morning they will be launching in the Australian and New Zealand markets in March 2015.

“Internet-connected users in Australia and New Zealand will be able to subscribe to Netflix and instantly watch a curated selection of popular movies and TV shows in high-definition or even 4K where available,” reads a press release distributed this morning.

The announcement cites Netflix original shows including Marco Polo and BoJack Horseman amongst its Australian content, which will also include “critically acclaimed documentaries Virunga and Mission Blue, and stand-up comedy specials Uganda Be Kidding Me, Live, from Chelsea Handler and Jim Jefferies’s BARE” — as well as Bloodline, Marvel’s Daredevil, The Matrix trilogy, Babylon 5, and the brilliant-sounding Netflix comedy Grace and Frankie, which stars Lily Tomlin, Martin Sheen and Jane Fonda.

While Netflix AU are as yet unable to offer more information about the programs that will be available and the deals they’ve struck with local content providers, it’s likely the provider’s library will look vastly different to the version of Netflix that over 200,000 of you have been accessing via a VPN.

As ZDNet’s Josh Taylor told us in June, “People have this idea in their head of Netflix providing easy access to all these high-quality shows like it does in the US, but a lot of them have existing local exclusivity deals with Foxtel. Netflix in Australia might look like what Quickflix does now, but without all the HBO content”.

The launch could impact the ability of Australians to access American Netflix, which has so far been turning a blind eye to VPNs that unblock access to geoblocked sites. AHEDA, an Australian industry group that represents studios like Twentieth Century Fox, Warner Bros, Universal and Sony Pictures, has been lobbying Netflix to crack down on illegitimate subscriptions for months now — and the launch of Netflix in Australia could provide more incentive.

A spokeswoman from Netflix AU couldn’t comment on anything beyond the press release at this stage, but said to stay tuned for further announcements.