Netflix, the U.S.-based leading Internet subscription service for movies and TV shows, has set eyes on a Chinese launch date in the near future, as the company has been in communication with the country's regulators, according to Reed Hastings, CEO of the company.
Hastings said that the company is preparing to introduce its streaming video service in the economic powerhouse and may soon get a license from China's regulators during the DLD Conference in Munich, Germany. He added that Netflix will be very patient as it may take several years.
The CEO has cited the experiences of Apple Inc. as an example, as the company introduced the iPhone after 6 years of negotiation, in order to elaborate the difficulties. He cautioned that cracking the China market may be a multi-year process.
He also hinted that many U.S. companies are looking for a share in China's massive market. Apple's iTunes service announced that it was able to start selling movies in the country last September and that Disney also joined hands with e-commerce giant Alibaba to launch a streaming service last month.
