Netflix Inc. has inked a deal to enter the China streaming market through an original content licensing deal with one of the country's largest digital distributors, iQIYI, according to a report from Variety. For years analysts and industry experts have speculated whether Netflix would be able to enter the country's budding entertainment industry. During the annual APOS conference in Indonesia, Netflix's Vice President of content acquisition Robert Roy made the announcement, but a spokesperson for Netflix told Variety the deal was too new to offer details on. iQIYI's platform totes more than 500 million unique users. Shares of Netflix have gained more than 16% in the year to date, while the S&P 500 index is up 6% and the Dow Jones Industrial Average is up 5% in the same time frame.
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