China, Meet Netflix

Part of Netflix, Inc. NFLX's long-term story is based on the streaming video provider's eventual entry to the very large but restrictive and heavily censored Chinese market.

Netflix's CEO Reed Hastings acknowledged in October 2016 that its prospects in China is "not looking good" and his focus remains on "the rest of the world." But things appear to have changed since last year, as Netflix reportedly struck a licensing deal for China, giving it access to the Asian market.

According to a Variety report, Netflix inked a deal with China's leading streaming platform, iQIYI. The Chinese company boasts more than half a billion monthly active users on its advertising supported platform.

Lots Of Question Marks Remain

A Netflix spokesperson confirmed to Variety a deal has been made, but it is too early to provide details, even simply the Chinese debut date.

Variety further noted that Netflix's original content may be available on a day-and-date or near-simultaneous basis. In addition, Chinese law require an entire series to be approved before it can be shown to consumers in China.

It is also not yet known how (or if) iQIYI can overcome this hurdle so that its content is shown to its consumers at the same time as viewers in other countries.

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