Netflix Inc., the video streaming service, is in talks with a firm backed by Jack Ma media and other potential partners in China.
The signing of the media is none other than Wasu Media Holding Co., which owned Alibaba Jack Ma has a stake of 20 percent. According to reports, Netflix is trying to break into the lucrative video market and growing line in China, according to a report.
"Netflix Inc. is in talks with a Chinese media company backed by Jack Ma and other potential partners as it seeks entry into $ 5.9 billion of the online video market in the country, according to people familiar with the matter" , he claimed a Bloomberg report.
Publishing sources also revealed that Netflix has been in talks with Wasu Media Holdings, and other local companies Chinese media to forge a long-term partnership.
For those wondering why Netflix is very interested in linking with a Chinese company, which is due to strict censorship laws existing in the country related to access online content and media. Having a local partner who has licensed content across devices such as computers, tablets, mobile phones and set-top boxes, Netflix would be advantageous.
Wasu Media Holdings fits perfectly, since it is one of seven companies that have Internet TV licenses Administration of Press, Publication, Radio, Film and Television (SAPPRFT) Chinese state.
With forecasts that the Chinese TV market to grow in line three times to $ 18 billion in the next three years, Netflix is on the right track, as it sets itself for global expansion.
Netflix CEO Reed Hastings has already expressed his enthusiasm to expand to 200 countries by the end of 2016 and become a global company.
Content director Ted Sarandos company told investors recently that Netflix would try to "figure out of China" and how to get there with a partner in tow.
"We are open to all the different models to get there in time, because we want to be truly global," said Sarandos. "And it's a very good part of the world to have an asterisk."
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