Netflix is an American entertainment company engage in providing streaming media and video-on-demand online and DVD by mail. China is one of the Asian country which has long avoided technology giants. Netflix agreed to provide live television services in China based iQiyi.com. The licensing deal covers television dramas, animated series, documentaries and various other shows.The drama “Mindhunter” and animated comedy “BoJack Horseman” will also be available on iQiyi.
Netflix has been looking for a way to capture the market of China. Netflix expanded to 130 countries last year and one hundred worldwide nation get benefited from this where Chinese government bound the types of content available. A security system has also been installed for viewers.
China has strong market due to some reasons Netflix tried to grab it. Netflix’s vice president Robert Roy said at this moment we are looking to get licensed to work in China. We closed a deal with iQiyi, which is our great achievement. The main motive of Netflix creates the awareness of Netflix brand and Netflix content.
We’d love to have direct relationship in China and it’s just a matter of when and how, and that’s something that we’re trying to figure out over time,” said Roy.
Netflix has recently competed against Amazon Prime Video and it doesn’t have presence in South Asia. Netflix’s original content will be made available through iQiyi on a day-and-date or near simultaneous basis. Its presence will be expanded to other regions as well.
Why China Deal Is So Important?
In China, 75 million people paid for online video subscriptions in 2016, up from 22 million in 2015, according to a study cited by The Wall Street Journal. China, 75 million people paid for online video subscriptions in 2016, up from 22 million in 2015, according to a study cited by The Wall Street Journal. It seems that Netflix has big goal which company accomplished by grabbing Chinese market. According to the source there have been some rumors that the company is planning a public offering, with an aim to raise somewhere around $1 billion.