IQIYI
iQiyi
IQiyi logo 2.png
Type of site
Video on demand
Headquarters Beijing, China
Founder(s) Gong Yu
Key people Tang Xing
(CTO)
Ma Dong
(COO)
Parent Baidu
Slogan(s) Enjoy Quality
(?)
Website www.iqiyi.com
Alexa rank Worldwide:230(2016-5-29)
 Mainland China:40(2016-5-29)

iQiyi (Chinese: ), formerly Qiyi (Chinese: ),[1] is an online video platform based in Beijing, China launched on April 22, 2010. iQiyi is currently one of the largest online video sites in China, with nearly 6 billion hours spent on its service each month, and over 500 million monthly active users.[2][3][4][5]

History

Qiyi was founded on April 22, 2010 by Baidu, which is China's largest online search engine, and Providence Equity Partners,[6] and changed its name to iQiyi in November 2011.[1] On November 2, 2011, it purchased the online license for Transformers: Dark of the Moon in mainland China from Paramount. On November 2, 2012, Baidu bought Providence's stake and took 100% ownership of the site.[7] On May 7, 2013, Baidu purchased the online video business of PPStream Inc. for $370 million, which became a subsidiary of iQiyi. On July 17, 2014, the site launched its film production division, iQiyi Motion Pictures, to expand existing cooperative projects with overseas peers, including purchasing releases and co-producing movies. On September 4, iQiyi cooperated with Venice Film Festival, streaming of the festival's movies online. On August 2014, iQiyi generated over 6.95 billion hours of viewing on its website.[8] In October, iQiyi participated in the Busan Film Festival, signing exclusive rights to nearly 100 South Korean titles.[9] On November 19, 2014, Xiaomi and Shunwei Capital invested $300 Million in iQiyi for about 10 percent to 15 percent of the site, while Baidu invested an additional $100 million and held about 80 percent.[10]

On December 8, 2014, iQiyi's chief content officer Ma Dong said the portal planned to more than double original production in 2015, with at least 30 titles and 500 episodes on the slate compared to 13 in 2014.[11] In 2015, iQiyi purchased the online copyrights of eight top entertainment shows in mainland China, and several entertainment shows in Taiwan and South Korea, including the Running Man.[12] In March 2016, it announced it would launch in Taiwan.[13] In June 2016 it reported it had 20 million subscribers.[14]

On April 25, 2017, Netflix announced that it had reached a licensing deal with iQiyi, under which some Netflix original productions will be available on iQivi day-and-date with their premiere elsewhere.[15]

Reception

According to iResearch, a widely quoted third-party industry research firm, as of October 2014, iQiyi and PPS had a total of 202.18 million mobile viewers who watched content for 600.62 million hours on these platforms, with mobile videos reaching had a total of 308.17 million mobile viewers who watched content for a total of 1176.44 million hours on these platforms. Total video views reached 500 million.[16] Each viewer watched content for an average of 229.05 minutes in October[17] In mid-2015 the site had 5 million subscribers, in late 2015/early 2016 it had over 10 million and by June 2016, it had 20 million.[18]

iQiyi bought exclusive Chinese rights to the hit South Korean show My Love from the Star, which to date has been viewed 2.7 billion times.

In 2014 iQiyi co-produced and distributed the drama Mysterious Summer with major Japanese broadcaster Fuji TV. It was the first drama co-production between China and Japan and has been viewed more than 60 million times as of October 2014.[19][20]

References

  1. ^ a b ":" (in Chinese). Sina.com. 28 November 2011. Retrieved 2017. 
  2. ^ Russell, Jon. "Baidu's iQiyi video service raises $1.53 billion". TechCrunch. 
  3. ^ Ng, Yi Shu. "Netflix takes its first steps into China, the world's hungriest streaming market". Mashable. 
  4. ^ Jeff Sneider (July 8, 2015). "Paramount Signs Licensing Deal With China's Largest Online Video Platform iQIYI". The Wrap. Retrieved 2015. Paramount Pictures has signed a licensing agreement with iQIYI, the largest online video platform in China, that will give the company rights to offer 800 films from the studio's library to subscribers of its SVOD service, Paramount announced Wednesday. 
  5. ^ Kevin Cassidy. "Lionsgate Pacts With Chinese Online Giant IQIYI". The Hollywood Reporter. Lionsgate has signed a long-term output deal for a number of high-profile Lionsgate and third-party feature films with China's largest comprehensive online video platform iQIYI. 
  6. ^ "Baidu | Press Releases". ir.baidu.com. Retrieved . 
  7. ^ "iQIYI and Venice Film Festival Begin a Brand New Cooperation from 2014". www.prnewswire.com. Retrieved . 
  8. ^ "8?PC:PPS,?50_?". digi.163.com. Retrieved . 
  9. ^ "Busan: China's iQiyi Signs Exclusive Rights to 90 South Korean Films". The Hollywood Reporter. 
  10. ^ "Xiaomi Stake Said to Value IQiyi at Up to $3 Billion". Bloomberg. November 19, 2014. 
  11. ^ Stein, Janine (December 9, 2014). "ATF: China's iQIYI to Double Production Slate in 2015". Variety. 
  12. ^ " 1?9-". news.xinhuanet.com. Retrieved . 
  13. ^ Frater, Patrick (March 30, 2016). "China's iQIYI Expands Streaming to Taiwan". Variety. Retrieved 2016. 
  14. ^ Xiang, Tracey (December 12, 2016). "China's Online Video Market in the Middle of Transition to Paid Subscribers, Self-Produced Content". TechNode. Retrieved 2017. 
  15. ^ "Netflix Signs Licensing Deal With China's iQiyi". The Hollywood Reporter. Retrieved 2017. 
  16. ^ "-". www.iresearch.cn. Retrieved . 
  17. ^ "-". www.iresearch.cn. Retrieved . 
  18. ^ Frater, Patrick (June 14, 2016). "China Video Platform iQIYI Reaches 20 Million Subscribers". Variety. Retrieved 2016. 
  19. ^ "Fuji TV to commence internet-based distribution for "Mysterious Summer" | OnScreenAsia.com". www.onscreenasia.com. Retrieved . 
  20. ^ "International Business Themes Dominate Tokyo Market Seminars". www.yahoo.com. Retrieved . 

  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.


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