Netflix is finally breaking into China, though not in the way it had originally hoped. The streaming giant confirmed that it has struck a licensing deal with Chinese streamer iQIYI. The companies haven’t revealed too many details about the deal just yet, but it’s likely that Netflix content will hit iQIYI at the same time that it debuts in other territories, or very shortly afterward. When Netflix undertook a massive global expansion last year, the company made clear that it hoped to bring its own platform Middle Kingdom. But regulatory hurdles curtailed those efforts, and licensing was always going to be the next-best option. iQIYI is owned by Baidu, China’s leading search provider.
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