Netflix has a China problem, and it is called “China’s Netflix”

Netflix may be staring at a huge problem, and it is China. Chinese streaming giants are reportedly quickly gaining ground on their American rivals in the booming Southeast Asian market. According to a report in Nikkei Asia, companies like iQiyi and Tencent are making major plays, shifting their focus to producing original content tailored for local audiences. Referred to as “China’s Netflix,” iQiyi, a subsidiary of Baidu, has been expanding across Southeast Asia since 2019, with a strong presence in Thailand, Indonesia, and Malaysia. The company has attracted 36 million monthly subscribers in the region by offering a mix of free ad-supported viewing and affordable subscription fees. In Thailand, iQiyi’s library features over 9,000 titles, with more than 60% being Chinese productions.