Netflix plays down China deal

Netflix has confirmed its first ever licensing deal in China, days after company reps confirmed it to trade press at the Apos summit in Bali.

The US streaming service said its expectations from the China agreement were ‘modest’, clarified that it only a limited range of its programmes will be available, and noted the regulatory requirements associated with importing foreign drama.

The market had reacted positively to the China news, with Netflix’s share price rising further.

The SVOD giant has long talked about breaking into China before then rowing back, citing regulatory challenges for international companies seeking to set up there.

Specifically, the agreement will see Netflix originals including Stranger Things and Black Mirror (pictured) licensed to iQiyi, the Chinese streaming service owned by e-commerce behemoth Alibaba.

“iQIYI and Netflix have signed a content licensing agreement for a subset of Netflix original series like Stranger Things and Black Mirror,” Netflic said in its short, official, announcement.

“Though expectations of our deal are modest in scope, we are delighted that consumers will be able to enjoy these highly-popular series on iQIYI, the leading online video platform in China.

“Our cooperation will be subject to the relevant regulations on online streaming of imported drama and film content in China.”