According to Reuters, the government-operated China Movie Channel will soon launch an online video service similar to Netflix in the mainland sometime this year. The move will reportedly bring huge streams of revenue to Hollywood since the yet-to-be-named service will stream films and TV shows from the motion-picture industry for the majority of subscribers in China. Investors allegedly told Reuters that China's new video service has already signed a content agreement with Viacom's Paramount Pictures.
Ubergizmo , China to launch Netflix-like video streaming service this year
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