Chinese video streaming service iQIYI Inc. is planning to expand into overseas markets after announcing that the number of its total paying subscribers surpassed 100 million, Reuters reported June 24, citing a senior company executive.

The Baidu Inc.-owned platform is looking to distribute content in North America, Singapore, South Korea and Japan, according to iQIYI's president of membership and overseas business, Yang Xianghua.

Although iQIYI still distributes its content overseas through tie-ups with local streaming sites, moving directly into overseas markets would offer the company a better playing field to compete with Netflix Inc.