Career Perspective (12 ) — Taiwan bans iQiyi services
As of right now, The OTT(Over-The-Top) business model has become increasingly lucrative in the global media market. Media moguls such as Netflix are the most active OTT worldwide providers. Their main earnings come from both advertisers and subscribers which can be gained from platform operations. At present, iQiyi, a Chinese OTT provider, is facing a profit related challenge operating by in Taiwan. That is why iQiyi has decided to stop offering their services in the days to come.
According to Taiwan’s official statement released by the National Communications Commission, iQiyi has been operating illegally in Taiwan by making contact with local companies. This is so as to offer Chinese streaming operations and to distribute their content to Taiwanese consumers. In order to prohibit illegal business operations in Taiwan, The Tsai’s administration has decided to ban iQiyi from operating so as to restrict its profitable earnings.
According to iQiyi’s official statement it was confirmed that their operations will be officially restricted in Taiwan from 15th October.Based on the Governing Relations ACT between the People of Taiwan and Mainland China, Chinese companies can only invest in certain categories of goods and services in Taiwan. However, profitable OTT services enterprises do not fall under this section.
Based on how businesses are impacted, one of my friends as well as an iQiyi ‘s user said that all of the iQiyi services have now been blocked and this caused her to end her subscription and request a full refund. iQiyi officially claims that the consumers’ right are taken for granted but certain issues remain red lighted without any attempt made to resolve them. As result, consumers have no rights when dealing with iQiyi because they are knocking on a no-answer door.
On a personal note, I feel like this is a reboot of the ban “imposed on both Tiktok and WeChat.” For decades, multiple presidential administrations have sat by idly while China gained an unfair advantage in global markets eventually growing into the giant it is today. However, Trump’s manipulation of his own administration has boosted the Tsai’s administration in Taiwan which has confidently decided to ban iQiyi in Taiwan even going so far as to forfeit the profitable taxes iQiyi brings into the country. That is also a message to the world that Taiwan is teaming up with the U.S. to fight back against China. This scene also brings to mind the age-old idea of revolution. Throughout the years, we have seen how politics and business can be constituted as a revolutionary act. This is even more so when countries decide to play back up for the U.S.
