Studios Could Reap Major Profits From New Chinese Streaming Service
By Chris Katje: A new deal reported by Reuters last week sees a Chinese service that would offer American movies on a streaming basis. Run by the Chinese government, The China Movie Channel will bring American movies to a streaming service in the most populous country. The service will essentially create the Netflix of China, and appear in front of the largest population in the world.With the second largest economy, China could become a huge source of revenue for movie companies in the United States. As less people buy physical DVDs in stores, movies studios need to make sure they get as much revenue in theaters and online through streaming as possible. Services like Netflix (NFLX) and Redbox (CSTR) have been a source of upfront payments to studios, but death for the DVD. Previously, China had limited the number of imports into its country, including movies.Additionally, Jiaflix and China Movie ChannelComplete Story »
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