Netflix enters China market with iQiyi deal


US streaming giant Netflix agreed to provide television series to Baidu’s, gaining access to the only major film market that had eluded the world’s largest paid video service.

Netflix has attempted to break into the China market in the past, but has acknowledged the “regulatory environment” was “challenging” in a letter to shareholders last year. The company also said it would rely on licensing content to existing streaming platforms in China instead, adding that it expected licensing revenues to be “modest.”

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