Independently-operated Baidu subsidiary iQIYI has boosted considerably its online video slate in China after signing a multi-year film output agreement with 20th Century Fox.
The multi-year deal will give iQIYI new release digital transactional video-on-demand (TVOD) and exclusive first-run subscription video-on-demand (SVOD) rights to 20th Century Fox’s films in China. The deal will make iQIYI the first online platform in the country to offer TVOD and SVOD access to films such as The Martian and The Revenant and iQIYI customers will also have access to upcoming major releases from 20th Century Fox.
The deal marks a good run for iQIYI. In December 2015, it hit the ten million mark for paid subscribers to its Internet and mobile video services as of 1 December, double its base in June 2015. iQIYI boasts the largest amount of paid subscribers among China’s video streaming platforms, according to the 2015 Report on Development of China’s Internet Audio-Visual Media, written by China Netcasting Services Association, with the support of the China Internet Network Information Centre (CNNIC).
Read more at Rapid TV News