Netflix will introduce original content in China following a licensing deal with local video streaming service iQiyi.com.
Netflix will introduce original content in China following a licensing deal with local video streaming service iQiyi.com.
The SVOD operator has struggled to break into the Chinese market, where streaming services are subject to strict data storage regulations and foreign film and television content is routinely censored.
Netflix has played down the possibility of its entry into China in the past year despite its otherwise rapid global expansion.
Reed Hastings, co-founder and Chief Executive of Netflix earlier said that prospects for a direct streaming service in the country were slim, and the firm had made no progress in obtaining government approvals.
iQiyi.com is owned by search giant Baidu and has 500m monthly users. In February, it raised $1.53bn to take on local rivals in a hotly contested market.
Netflix forecasts a global increase of 3.2m subscribers in the second quarter, far outpacing analysts’ estimates of nearly 2.4m.
