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 | Your home is in Armenia – Ameriabank offers mortgage loans for the Diaspora To buy real estate, Diasporans can apply to Ameriabank online to buy, renovate or build a home anywhere in Armenia. Armenia-Qatar ties discussed in Doha The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar. ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event. Surveying works underway in Armenia’s Kirants Surveying works are underway in the Armenian village of Kirants in the northern Tavush province. |