China’s iQiyi signs output deal with Fox
Chinese streaming platform iQiyi has signed a multi-year film output agreement with 20th Century Fox.
The deal gives iQiyi new release digital TVOD and exclusive first-run SVOD rights in China to the studio’s theatrical releases. Some of the first titles covered by the deal include The Martian, The Revenant, Snoopy And Charlie Brown: A Peanuts Movie and Maze Runner: The Scorch Trials.
iQiyi, an independently operated subsidiary of internet titan Baidu, previously had a library licensing deal with Fox. The company recently announced that its paid subscriber base had reached ten million as of December 1, 2015.
“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 Fox chairman and CEO Jim Gianopulos.
The US studios are currently going through a busy period of licensing content to China’s ambitious streaming players. Universal signed deals with both iQiyi and Alibaba last year, while Paramount pacted with Youku Tudou. iQiyi also has an output deal with Lionsgate.