Netflix reported subscriber data at the close of business on Monday that significantly outperformed expectations. The stock soared – closing up 19.62%.
“Disney, which is very good in China, had their movie service shutdown. Apple had their movie service closed down. It doesn’t look good.” – Netflix CEO
In a shocking spectacle of insider dealing, the Chairman of Baidu, along with others announced plans in February 2016 to buyout iQiyi from Baidu for $2.3B.
China’s online video market is massive: there are 660 million internet users, and 75% of those consume video content online. However, the SVOD model is new.