iQIYI, the video streaming firm owned by Baidu, has signed an expanded multi-year agreement with NBCUniversal International Distribution.
iQIYI now has expanded digital rights to Universal Pictures’ existing library titles and all of the studio’s new movies that will be released in China for the next few years.
The addition of Universal Pictures’ films to the iQIYI platform has significantly enhanced iQIYI’s offering to its members, while iQIYI’s digital capabilities have also helped to promote the studio’s titles amongst Chinese viewers.
“We are pleased to expand upon our existing deal with iQIYI and partner with them to bring Universal Pictures’ diverse catalogue of films to their fast-growing subscriber base,” Belinda Menendez, president, NBCUniversal International Distribution & Networks, said.
This year, iQIYI promoted the library titles in the Fast & Furious and Jurassic Park franchises while their newest installments (Fast & Furious 7 and Jurassic World) were released in theatres in China. This helped to simultaneously attract a lot of attention to the classic movies and encouraged audiences to go to theatres to watch the new films.
iQIYI claims its paid subscriber base reached five million as of June 15 and has over 6,000 film and TV titles in its library, 2,500 of which more than 40% are major Hollywood studio productions.