Netflix clinches licensing deal to introduce original content in ChinaApril 25, 2017 - 17:20 AMT PanARMENIAN.Net - Netflix is to introduce original content in China in a licensing deal with local video streaming service iQiyi.com, the U.S. company said on Tuesday, April 25, according to Reuters. 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. Content air times will parallel other regions, a spokeswoman said, who declined to say comment further on the tie-up. Netflix has played down the possibility of its entry into China in the past year despite its otherwise rapid global expansion. In October co-founder and Chief Executive 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. iQiyi.com is one of China's largest streaming services and is backed by search giant Baidu Inc. In February it raised 1.53 billion to take on local rivals in a hotly contested market. This month Netflix forecast a global increase of 3.2 million subscribers in the second quarter, far outpacing analysts' estimates of nearly 2.4 million. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |