iQiyi To Debut TV Series Ahead Of Broadcast Premiere
iQiyi premium content continues to drive rapid growth in paid-subscribers.
BEIJING/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 it will launch a highly anticipated TV series prior to its broadcast premier, highlighting its efforts to offer more diversified services to its paid users.
iQIYI paid users will enjoy access to the series called "Shu Shan Zhan Ji," for which iQIYI has acquired the exclusive online rights, several months before its TV premier.
"The ability to view premium content before it airs on broadcast TV has proven highly popular among iQIYI subscribers," said Xianghua Yang, iQIYI senior vice president. "Our recent trial with 'Notes of Tomb Raiders' demonstrated that Chinese viewers are willing to pay to watch high-quality content as soon as possible. We will continue to explore new ways to offer our members an even better online viewing experience."
This is the first time in China that a highly anticipated, star-driven TV series will be aired online prior to its TV premier. In the past, TV series have been either broadcast first on television, or simultaneously on both television and online platforms. With "Notes of Tomb Raiders," iQIYI began testing a new distribution model, highlighting its growing cooperation with cable TV networks for the distribution of premium content in China.
Building on the success of "Tomb Raiders," "Shu Shan Zhan Ji" will adopt a new distribution model enabling subscription users to access premium content earlier, representing a step forward in the evolution away from advertising to a subscription based revenue model for premium content.
iQIYI's self-produced TV series "Notes of Tomb Raiders," released in June 2015, was produced exclusively for online viewers and will not be shown in television. It has enjoyed enormous popularity in China and has helped to drive the strong popularity of iQIYI's subscription service.
iQIYI has built one of the largest movie libraries in China's online video industry and recently announced an agreement with Paramount Pictures to acquire the Internet broadcast rights for 800 existing and future movies.
According to a recently released App Annie report, in July 2015 the Company's "iQIYI Video HD" app ranked as the 6th most downloaded app worldwide and 9th by revenue. The app also ranked among the top five iOS Entertainment apps in China by monthly active users.