China's Netflix Wannabes Lure Viewers

Chinese companies like Baidu, Alibaba, and Tencent are heavily investing in streaming, with Baidu planning to spend over 10 billion yuan. Streaming is vital due to its potential for cross-selling and advertising. However, the competition is deemed unsustainable, leading companies to produce their own content and collaborate with Hollywood to reduce costs.

What are the reasons companies are considering producing their own content?

How are Chinese companies collaborating with Hollywood studios?