Western movies have become a major selling point for several Chinese video sites.[Photo provided to China Daily]

China doesn't really have a DVD market or subscription TV channels. Streaming sites fill the void.

In 2014, iQiyi's registered members and revenues increased eightfold.

"Profits are still just enough to cover licensing fees, not to mention labor," Yang says. "But we're still in the process of fostering the market. We're not in a hurry to make more profit. We'll spend what we bring in on buying rights to more films."

The only obstacle may be that, starting this year, the State Administration of Press, Publication, Radio, Film and Television requires online content to be registered and wholly reviewed before it's certificated to be shown.

"Our quota will surely still be much larger than cinemas'," Yang says. "As far as I know, we'll also be allowed to carry content intended to be exclusively for the Internet. I don't think there will be much difference in content choices."