licensing deal with China's iQiyi.com
Send a link to a friend
[April 25, 2017]
(Reuters) - Netflix is to introduce original content in China in a
licensing deal with local video streaming service iQiyi.com, the U.S.
company said on Tuesday.
Netflix has struggled to break into the Chinese market, where streaming
services are subject to strict data storage regulations and foreign
films and television are routinely censored.
Content air times will parallel other regions, a spokeswoman said, who
declined to say comment further on the tie-up.
Netflix has played down the possibility of its entry into China in the
past year despite its otherwise rapid global expansion.
In October co-founder and Chief Executive Reed Hastings said that
prospects for a direct streaming service in the country were slim, and
the firm had made no progress in obtaining government approvals.
[to top of second column]
The Netflix logo is shown in this illustration photograph in
Encinitas, California October 14, 2014. REUTERS/Mike Blake/File
iQiyi.com is one of China's largest streaming services and is backed by search
giant Baidu Inc. In February it raised 1.53 billion to take on local rivals in a
hotly contested market.
This month Netflix forecast a global increase of 3.2 million subscribers in the
second quarter, far outpacing analysts' estimates of nearly 2.4 million.
(Reporting by Cate Cadell)
[© 2017 Thomson Reuters. All rights
Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.