While some virtual reality pioneers at CES Asia believe the immersive technology could take some business away from movie theaters, streaming services are already applying that pressure.
“Netflix and chill” has become the new default date night activity, and even in China, where the home of “House of Cards” is not (yet) available, over-the-top internet TV services like Alibaba-owned Youku Tudou, with its more than 30 million subscribers, have captivated the smartphone-addicted younger generation with their convenience
Sum Huang, the co-founder and chief financial officer of streaming company XG Entertainment, said the budgets for shows going to streaming services have increased six-fold over the last three years.