Netflix is in talks to enter the Chinese market

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The Netflix world headquarters building located in Los Gatos.

Internet video streaming company Netflix is holding talks with Wasu Media and many other potential partners to enter the booming online video market in China, reports Bloomberg and citing people ‘familiar with the matter’.

Netflix seeking partner for content deals in China

Netflix is looking for a partner with licenses for content on all devices including smartphones, computers and set-top boxes, according to the report.

Reuters also ran a similar story and reported that Wasu Media did not comment, and Netflix did not immediately respond to a request for comment outside regular business hours.

Netflix had earlier stated it was developing plans for a modest Chinese service if it could obtain permission to operate in the world’s most populous country.

RELATED: China to boost Internet speeds and reduce prices

Currently, most Chinese consumers are used to watching content for free that’s supported by ads, or pirated, much like the rest of South East Asia.

“For every country we know what we want to do, but in China we are still exploring our options”, Chief Executive Reed Hastings said in an interview earlier this year.

Local partnerships could be essential taking into account the government’s strict controls over licensing online content, said Bloomberg.

Meanwhile, last month Wasu Media said that Alibaba founder Jack Ma and others will pay more than a billion dollars for a 20% stake in the company.

SOURCE: Business Insider

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