This article originally appeared on ABACUS Tencent says its video service now has over 62.5 million paying subscribers , the most among all video streaming services in China. But Tencent is far from the only on-demand video choice for Chinese users. Just one day before Tencent's announcement, rival iQiyi launched plans for a $2.4 billion IPO in the US , saying it has 60.1 million paying subscribers. Without Netflix and YouTube in China, the country's homegrown giants all have their own video services. The three biggest ones - Tencent Video, iQiyi and Youku are each owned by Tencent, Baidu and Alibaba respectively. (Abacus is a unit of the South China Morning Post, which is owned by Alibaba.) The three sites aren't quite like Netflix - they have plenty of free video and user generated clips, while also allowing people to pay a subscription fee to view other TV shows and movies. The race between the three also means they're trying to create more original content - while also bringing over the best from the rest of the world. iQiyi made an original rap show that became viral in 2017 , but it also exclusively distributes Netflix shows like Stranger Things and Black Mirror. And Tencent has a deal with HBO to stream some of its shows including Games of Thrones ( cut down by Chinese censors ). For more insights into China tech, sign up for our tech newsletters , subscribe to our Inside China Tech podcast , and download the comprehensive 2019 China Internet Report . Also roam China Tech City , an award-winning interactive digital map at our sister site Abacus .