Netflix China deal with iQiyi
April 25, 2017
Netflix is to introduce original content in China in a licensing deal with local video streaming service iQiyi.com, says the US company.
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. In October CEO 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.
Content would be scheduled as near to international schedules as possible, reports Reuters. iQiyi.com is one of China’s largest streaming services and is backed by search giant Baidu. In February it raised $1.53 billion to take on local rivals in a crowded market.