American video website Netflix has reached a content licensing agreement with the Chinese video website Iqiyi.com.
Netflix is an American video streaming media provider with video services around the world. The company started promoting its services in the global market over a year ago and it currently operates in 130 countries and regions. However, it has not yet entered the Chinese market. Apart from providing video streaming media services, Netflix has gradually launched self-made film and television contents, including House of Cards and Stranger Things, in recent years.
A spokesperson from Netflix said that the deal with Iqiyi was just closed and no further detail was available, such as when Netflix would launch its content services in China. However, it can be expected that Netflix's self-made contents would be launched in China synchronously or close to synchronously as elsewhere.
Iqiyi has over 500 million monthly active users and the company's profit depends on video advertising. Iqiyi also has self-created content and its paid subscribers also contribute to its income.