Netflix Said to Seek Route Into China With Wasu
Netflix is in talks with a Chinese media company backed by Jack Ma and other possible partners as it seeks entry into the country’s $5.9 billion online video market, according to people familiar with the matter.
Netflix has held discussions with companies including Wasu Media Holding Co. about forming a partnership, according to the people, who asked not to be identified because the talks are private. Netflix plans “to be nearly global by the end of 2016,” a spokeswoman, Anne Marie Squeo, said in response to questions about a possible China partnership.
Entering China would allow the broadcaster of “House of Cards” and “Orange Is the New Black” to take advantage of what’s forecast to be explosive growth in online television in the nation of 1.4 billion people. The market is expected to almost triple to 90 billion yuan by 2018, according to Shanghai- based Internet consultant IResearch.
