Baidu will show more Netflix content on its video site
President Zhang Yaqin promises 'exciting agreements' ahead for online video platform iQiyi and the North American entertainment giant
Baidu is planning to introduce more Netflix shows to its online video platform iQiyi, said Zhang Yaqin, the president of the company, suggesting that there will be some “exciting” agreements between the two companies to come, Yicai.com reported.
As one of the mainstream video websites in China, iQiyi has more than 400 million registered users.
Content such as original shows will be the core of the future growth of technology companies. From the global perspective, giants like Netflix, Amazon, Apple and Facebook are heavily invested in content production.
In China, it has become a battle for Internet giants to park their money in video platforms and content. For example, another major video site, Youku Tudou, is backed by Alibaba.
These websites spend roughly one-third of their budget on producing original shows, though it is tiny compared to Netflix’s investment.
The American entertainment company is spending US$7.5 to 8 billion on original programs per year.