QIYI and Paramount in distribution deal for Transformers: Dark of the Moon in China
Louise Duffy ©RapidTVNews | 02-11-2011 Chinese video on demand (VOD) company QIYI has signed a distribution deal with Paramount Pictures for Transformers: Dark of the Moon in mainland China. The film will be available for transactional VOD from 21 November. As part of the agreement, QIYI will also have the right to distribute the film to other companies within the mainland China market for transactional, subscription and free VOD services. QIYI is extending its special procurement model to Hollywood productions so it will be able to show international films to Chinese audiences.
Transformers: Dark of the Moon is the highest earning film in the Transformers franchise, and has grossed over $1 billion in worldwide box office. In China, it earned more than $10 million on its opening day, and went on to become one of the highest grossing films in Chinese theatrical history.
"QIYI's acquisition of Transformers: Dark of the Moon allows us to tap into the popularity of the movie following its huge theatrical success in China. This deal demonstrates an example of successful co-operation between a local Chinese video website and a major Hollywood studio," said Yu Gong, founder and CEO of QIYI.
"QIYI is in a leading position to provide legitimate content to online audiences in China. We are truly pleased to have Transformers: Dark of the Moon available on QIYI.COM," said Hal Richardson, president of Paramount Home Media Distribution.