Netflix has a China problem, and it is called "China's Netflix"

Chinese streaming platforms like iQiyi and Tencent are aggressively expanding in Southeast Asia, challenging Netflix's dominance. They are investing heavily in local original content, tailoring their offerings to regional tastes and preferences. With a focus on affordable subscriptions and popular genres, these companies are rapidly gaining market share, driven by a large ethnic Chinese population and the region's growth potential.

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