FILE PHOTO: A sign in Chinese video streaming platform iQiyi Inc., is displayed at the Beijing International Cultural & Creative Industry Expo in Beijing, China, May 29, 2019. REUTERS/Stringer/File Photo
BEIJING (Reuters) – iQiyi, China’s answer to Netflix, is going to be harder to push into overseas markets, such as North America and Japan, and after the video-streaming service hit a milestone of 100 million subscribers in this month, a senior executive said on Monday.
The company, which has been locked in a cash-burning fight with Tencent’s video site, and the Alibaba backed Youku Tudou in China, will distribute more of its self-produced content, North America, Singapore, south africa, south africa, South Korea, and Japan, where they were to be seen in the growing interest in the Chinese language shows, iQiyi, the President and the Membership of, and foreign Affairs, Yang Xianghua, told Reuters in an interview.
“There’s more time for it, and I think that there is a lot of opportunity in other markets around the world,” he said.
The company, which produces original TV programs, reality shows and movies online, has announced on Saturday that it had reached the 100-million-paid-subscriber mark, which it attributed to the emphasis on the acquisition of viewers all over the country for the elderly and residents of rural areas.
In addition, Tencent Video, said in May that, of the 89 million subscribers, respectively, while Netflix, Inc., in January, it said that it could have been about 139 million paid memberships in more than 190 countries.
iQiyi currently, it distributes the content of foreign countries through tie-ups with local streaming sites, and more.
With a greater push overseas was able to see, iQiyi will go head-to-head with Netflix, with the signing of a licensing deal in 2017. Netflix’s platform is currently not available in China, but the company in the US to flow to some of its content is due to iQiyi’s site, which, by means of a partnership.
Yang said that the partnership was ongoing, but said that concerns about sustainability, given the current trade war between China and the United States of america, and Beijing’s increasingly tight control of the content in China.
“With today’s environment and China’s relations with the US; this co-operation is not very sustainable,” he said. “There is a quota on how much content you can import, and they have been subject to censorship and, therefore, can only take it step by step.”
Reporting Pei, Li; editing by Uttaresh.V