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Netflix has played down the significance of its first major licensing deal in China, news of which was announced this week<\/a>.<\/p>\n The company\u2019s share price surged nearly six percent<\/a> after it\u00a0announced that it had agreed to a distribution deal with iQiyi, one of China\u2019s largest video portals which was started by internet giant Baidu. The news was first revealed at the APOS 2017 event in Bali<\/a>, where executives briefed selected entertainment media, but, rather interestingly, the partnership was officially announced today<\/a> with a fairly major\u00a0caveat.<\/p>\n Netflix said in a statement that \u201cexpectations of our deal are modest in scope.\u201d It detailed also that the deal is remains subject to regulations that government online streaming content in the country. Further, it hasn\u2019t revealed exactly which of its Original content will be broadcast in the country.<\/p>\n Those aforementioned\u00a0regulations could yet be significant.\u00a0Regulations are thought to have nixed Apple\u2019s iTunes Movies service<\/a>, just six months after its launch in China<\/a>, while\u00a0concern around content rules is the chief reason why Amazon Prime and Netflix are not available locally in the market. Netflix said previously that it retains an interest in offering a local service in China, but for now it is going after distribution deals like this partnership with iQiyi, which has close to 500 million monthly viewers. From the company\u2019s statements today, it seems like it is playing down its hopes for China despite investors and the market adopting a very bullish take.<\/p>\n The company is likely much more keen to trumpet that its userbase has passed 100 million paying members, with the percent of overseas users now up to around 50 percent. Speaking at an event in Bangkok this week, where Netflix launched a localized version of the service<\/a>, executives told media that its total audience of viewers is estimated at around 250 million people, making it a major platform for storytellers across the world. To that end, the company said it is actively exploring distribution opportunities\u00a0with content producers across Asia to get their work in front of its\u00a0global userbase. Already, in Asia, it said it has commissioned original content from Korea, Indian and Indonesia.<\/p>\n Featured Image: crystal51<\/a>\/Shutterstock<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2016\/06\/shutterstock_325058183.jpg?w=680\")
Netflix has played down the significance of its first major licensing deal in China, news of which was announced this week. The company’s share price surged nearly six percent after it\u00a0announced that it had agreed to a distribution deal with iQiyi, one of China’s largest video portals which was started by internet giant Baidu. The news was first revealed at the APOS 2017 event… Read More<\/a><\/p>\n\n<\/img><\/a>
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