Fox Signs VOD Deal in China27 Jan, 2016 By: Thomas K. Arnold
Twentieth Century Fox Jan. 27 announced a multiyear film output deal with Chinese online video service iQIYI.
The deal gives iQIYI, an independently operated subsidiary of Baidu, new-release digital TVOD and exclusive first-run SVOD rights in China to the studio’s theatrical releases.
The deal makes iQIYI the first online platform in China for subscribers to watch 20th Century Fox’s hit movies on TVOD and SVOD, including recent Golden Globe winners The Martian and The Revenant, as well as The Peanuts Movie and Maze Runner: The Scorch Trials. Customers of iQIYI also get access to upcoming new releases from 20th Century Fox.
Earlier last year, the two companies enhanced their existing library licensing deal by significantly increasing the films available on iQIYI’s online video streaming service.
“Over the last several years, online video platforms have become a major destination for subscribers to enjoy films,” said Dr. Gong Yu, founder and CEO of iQIYI. “This close collaboration between 20th Century Fox and iQIYI will significantly expand the content options for Chinese audiences.”
"We are extremely pleased to expand our partnership with iQIYI for this innovative deal to bring their subscribers first access to 20th Century Fox’s films in China," said Jim Gianopulos, chairman and CEO of 20th Century Fox. "This is another example of the continuing growth of our important relationships in this rapidly expanding marketplace.”
iQIYI has built one of the largest online movie libraries in China, with premium domestic and international titles. The service has seen rapid growth in its paid subscriber base, which reached 10 million as of Dec. 1, 2015. According to an October 2015 report by App Annie, iQIYI’s mobile app was the No. 7 iOS app by revenue, globally, moving up two spots from July.