iQiyi & NBCUniversal Sign Content Deal
New deal secures iQIYI access to the largest collection of films from Universal Pictures to date in China.
BEIJING – iQIYI, an independently operated subsidiary of Baidu (NASDAQ:BIDU) and one of the largest Internet and mobile video service providers in China, today announced that it has entered into a new multi-year agreement with NBCUniversal International Distribution that grants iQIYI expanded digital rights to Universal Pictures’ existing library titles and all of the studio’s new movies that will be released in China for the next few years.
The addition of Universal Pictures’ films to the iQIYI platform has significantly enhanced iQIYI’s offering to its members, while iQIYI’s powerful digital capabilities have also helped to promote the studio’s titles amongst Chinese viewers. This year, iQIYI promoted the library titles in the “Fast & Furious” and “Jurassic Park” franchises while their newest installments (“Fast & Furious 7” and “Jurassic World”) were released in theatres in China. This helped to simultaneously attract a lot of attention to the classic movies and encouraged audiences to go to theatres to watch the new films.
“It has been a great pleasure to cooperate with NBCUniversal. We are looking forward to introducing even more great films from Universal Pictures to our members through our expanded collaboration,” said Xianghua Yang, Senior Vice President of iQIYI.
“We are pleased to expand upon our existing deal with iQIYI and partner with them to bring Universal Pictures’ diverse catalogue of films to their fast-growing subscriber base,” said Belinda Menendez, President, NBCUniversal International Distribution & Networks.
iQIYI has built one of the largest online movie libraries in China with premium domestic and international titles. By focusing on providing users with the best content and online viewing experience, iQIYI has seen strong growth in its paid subscriber base which reached five million as of June 15, 2015.