Netflix is planning to expand in the world's most populous country in the coming times.
Netflix, Inc. has made its name in the online streaming industry of the whole world. The company has not only dominated the domestic market but has expanded and disrupted the international markets as well. This can be proven as 350,000 Australian users subscribed to its services before even its launch in the region. This shows that its entertainment offerings are truly worthwhile.
Expanding throughout the world has never been a problem for the company and in recent times, it has expanded global footprints to Australia, Cuba, and New Zealand. Furthermore, it now seeks to do business in China as well.
According to Wall Street Journal, Netflix is looking for opportunities to expand its services in China. The company is in the process of negotiations with Chinese online broadcasters and companies regarding a possible launch of its online streaming platform in the region.
After United States, this is the biggest market for online users. It is confidently anticipated that in the coming years, China will be overtaking United States as the biggest tech industry in the world.
According to a report published in Bloomberg, “Netflix Inc. is in talks with a Chinese media company backed by Jack Ma and other possible partners as it seeks entry into the country's $5.9 billion online video market, according to people familiar with the matter.”
The report further explained that the company is still looking for a perfect partner that has rights and licenses for content on all devices that include smartphones, tablets, computers, set top boxes, and gaming consoles. Netflix has not responded so far to a request for comment on this matter.
The online streaming giant previously confirmed that it has plans to expand in China. It said that it is developing ways to launch the most modest service of the company for Chinese users only if it is permitted by the officials to do business in the world’s largest populous country. It is believed that Chinese users are “used to watching entertainment for free that is either supported by ads or pirated.”
Reed Hastings, the CEO of the company, stated in an interview at the start of this year, “For every country we know what we want to do, but in China we are still exploring our options.”
It is likely that the online streaming giant will find the most attractive ways to launch its service in the region, as it wants to make an instant impact in the market; hence, it will not hold back.