image

Baidu

Netflix negotiating with Baidu to distribute original programmes in China through iQiyi.com

PUBLISHED : Wednesday, 26 April, 2017, 12:27am
UPDATED : Wednesday, 26 April, 2017, 12:27am

Netflix is in talks to distribute its original programmes in China through iQiyi.com, the streaming-video provider controlled by Baidu, gaining access to a market that has long eluded the world’s largest pay-TV service.

Cooperation between the companies will adhere strictly to Chinese regulations on film and TV imports, iQiyi said in an emailed statement. Variety reported earlier that a Netflix executive, Robert Roy, announced at a conference in Indonesia that a deal with iQiyi was in place. Netflix didn’t have an immediate comment when contacted on Tuesday.

Netflix has been looking for a way to enter China as part of its plan to amass a global audience for its burgeoning library of exclusive shows, from “House of Cards” to “Stranger Things.” Netflix expanded to 130 countries last year, with China the sole major market left out, and surpassed 100 million subscribers worldwide last weekend.

Netflix shares climbed as much as 3.5 per cent to US$148.91 in New York trading, an all-time high. Baidu’s US-listed shares climbed 2.5 per cent to US$184.50.