China's largest Internet and mobile video service provider iQIYI and US video streaming company Netflix have signed a content licensing agreement for a subset of Netflix dramas, cartoons, documentaries and reality shows, enabling Chinese consumers to enjoy the content on the iQIYI online video platform in China.
The deal covers Netflix's premium shows such as sci-fi series Black Mirror and Stranger Things for simultaneous premiering in China.
"Though our expectations of this deal remain modest, we are delighted that consumers will be able to enjoy these highly-popular series on iQIYI, the leading media platform in China," said Jessica Lee, VP, Communications - Asia, Netflix.
The partnership marks a new milestone for iQIYI as it strives to provide its subscribers with greater variety of high-quality shows from across the world. The deal is also expected to help drive out pirated content in the Chinese market by feeding local viewers with genuine, copyrighted high-definition content.
"We commit ourselves to making more original content and high-quality shows from around the world accessible to our viewers in China," said Yang Xianghua, Senior VP, iQIYI. "In teaming up with important content providers such as Netflix, iQIYI is capable of keeping abreast of latest trends and development in the industry around the globe."
Founded in China in 2010, iQIYI is the top online video platform in China that streams both licensed and original movies, television series, variety shows, cartoons and other content. Last year, iQIYI became the first video streaming company from Asia that entered the top revenue ranking of global apps, along with Netflix, HBO Now and Hulu, according to US mobile analytics specialist App Annie. While iQIYI is in seventh place, Netflix came in third worldwide in terms of revenue.
Statistics from Chinese Internet research unit iResearch show that iQIYI's app was active on 474 million mobile devices during January 2017 and that users spent a total of 5.02 billion hours on it over the month. Meanwhile, iQIYI has also taken a leading position in paid subscription business, announcing over 20 million paid subscribers as of June 2016.
The cooperation will be subject to the relevant regulations on online streaming of imported drama and film content in China.
The deal covers Netflix's premium shows such as sci-fi series Black Mirror and Stranger Things for simultaneous premiering in China.
"Though our expectations of this deal remain modest, we are delighted that consumers will be able to enjoy these highly-popular series on iQIYI, the leading media platform in China," said Jessica Lee, VP, Communications - Asia, Netflix.
The partnership marks a new milestone for iQIYI as it strives to provide its subscribers with greater variety of high-quality shows from across the world. The deal is also expected to help drive out pirated content in the Chinese market by feeding local viewers with genuine, copyrighted high-definition content.
"We commit ourselves to making more original content and high-quality shows from around the world accessible to our viewers in China," said Yang Xianghua, Senior VP, iQIYI. "In teaming up with important content providers such as Netflix, iQIYI is capable of keeping abreast of latest trends and development in the industry around the globe."
Founded in China in 2010, iQIYI is the top online video platform in China that streams both licensed and original movies, television series, variety shows, cartoons and other content. Last year, iQIYI became the first video streaming company from Asia that entered the top revenue ranking of global apps, along with Netflix, HBO Now and Hulu, according to US mobile analytics specialist App Annie. While iQIYI is in seventh place, Netflix came in third worldwide in terms of revenue.
Statistics from Chinese Internet research unit iResearch show that iQIYI's app was active on 474 million mobile devices during January 2017 and that users spent a total of 5.02 billion hours on it over the month. Meanwhile, iQIYI has also taken a leading position in paid subscription business, announcing over 20 million paid subscribers as of June 2016.
The cooperation will be subject to the relevant regulations on online streaming of imported drama and film content in China.
posted from Bloggeroid
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