iQIYI reaches 10MN paid subscribers


Details

Rebecca Hawkes

| 04 December 2015




China’s iQIYI has 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 now has 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).

“The development of mobile payments and premium content, combined with the crackdown on unlicensed online content, has driven explosive growth in paid subscriptions in 2015. iQIYI has become the industry leader by offering premium content, providing the best viewing experience and carrying out a clear branding strategy,” said Yu Gong, founder and CEO, iQIYI.

Xianghua Yang, senior vice president, iQIYI added: “Understanding and anticipating user demand is the key to our success. With the rapid progress in the paid subscription model for online content, we are extremely excited about the opportunities in China’s online entertainment and culture industry. We look forward to further developing high potential areas such as online gaming, music, education and literature.”

The Baidu VOD subsidiary has forged partnerships with international studios and broadcasters, including Paramount, Lionsgate, NBCUniversal, BBC Earth and China 3D. In addition, iQIYI is producing its own content, including the popular TV series The Lost Tomb.

Earlier this year iQIYI adopted a new distribution model for its show The Legend of S (Shu Shan Zhan Ji) to enable paid subscribers to see it prior to its linear TV broadcast.

In 2016, iQIYI says it plans to enhance its offer with more than 40 new shows and will invest about 50% of its annual budget in the paid subscription business.