BEIJING, Dec. 3, 2015 /PRNewswire/ -- 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 the
company's paid streaming subscribers have reached ten million as of
December 1, 2015, doubling in number
since June 15, 2015.
According to the 2015 Report on Development of China's Internet Audio-Visual Media, iQIYI has
the largest number of paid subscribers among China's video streaming platforms, far
surpassing the combined total of the second and third largest
players. The report was issued by China Netcasting Services
Association, with the support of the China Internet Network
Information Center (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," said Yu Gong, founder and CEO of iQIYI. "iQIYI has
become the industry leader by offering premium content, providing
the best viewing experience and carrying out a clear branding
strategy."
"Understanding and anticipating user demand is the key to our
success," said Xianghua Yang, Senior
Vice President of iQIYI. "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."
iQIYI's growing library of premium content is key to the
company's strategy to grow paid subscriptions. The company's
pioneering self-produced TV series "The Lost Tomb" was produced
exclusively for online viewers and has enjoyed enormous popularity
in China. iQIYI has adopted a new
distribution model for its recently released show "The Legend of S
(Shu Shan Zhan Ji)" to enable paid
subscribers to access premium content prior to its broadcast on
television.
Beyond its breakthrough online shows, iQIYI has announced
partnerships with top-tier global studios and production
houses, including Paramount, Lionsgate, NBCUniversal, BBC Earth and
China 3D, to further enrich its
offering to subscribers.
According to a recent report published by App Annie, in October
2015 iQIYI's mobile app was the 7th top iOS app
by revenue globally, gaining two spots from its 9th
place ranking in July.
In 2016, iQIYI will enhance its paid subscription offering by
purchasing and producing over 40 new shows and will invest
approximately 50% of its full year budget in the paid subscription
business.
About iQIYI
Founded in April 2010, iQIYI is
one of the largest Internet and mobile video service providers in
China. An independently operated
subsidiary of Baidu, the world's largest Chinese search engine,
iQIYI is focused on providing Chinese users with the best possible
online video experience, and has become an industry leader in
developing innovative products and technologies.
For media inquiries, please contact:
Foote Group
Yajun
Zhang
+86 (10) 8429-9544
yajun@thefootegroup.com
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SOURCE iQIYI