You will be redirected back to your article in seconds

China Video Platform iQIYI Reaches 20 Million Subscribers

Chinese online video firm iQIYI announced Tuesday that its tally of paying subscribers had hit 20 million. The claim comes only six months after iQIYI passed the 10 million mark.

The company says that the soaring total reflects a growing consumer willingness to pay for online content in China. “This market has just taken off,” said Yu Gong, founder and CEO of iQIYI at an event on the margins of the Shanghai International Film Festival. This time last year iQIYI shocked the market and drew claims of doubt from its competitors when it announced 5 million subscribers.

In July, however, iQIYI launched a premium service that allows paying subscribers to get earlier or exclusive access to 29 blockbuster shows. The company has had unquestioned success with in-house produced drama, The Lost Tomb, and hugely popular Korean TV show, Descendants of the Sun. IQIYI says the two shows have been viewed 18.7 billion times in the past year.

The company announced the launch of “iQIYI Cartoon Home,” a separate app that targets children. The new kids service is offered for free as an additional benefit to its paying subscribers.

iQIYI has content suppliers that include Paramount Pictures, 21th Century Fox, Lionsgate, Hong Kong’s Media Asia and Korea’s Showbox.

The company is majority owned by Baidu, China’s largest online search group. Baidu, which has its shares traded in New York, Tuesday issued a profits warning citing the economic slowdown as a cause.

More Digital

  • Hooq Sets up Filmmakers Guild For

    Hooq Sets up Filmmakers Guild For Second Year of Pilots

    Asian video streaming platform, Hooq is to air five pilot episodes that have emerged from its Filmmakers Guild. The most successful is guaranteed to be produced as a full series and streamed on the platform. Five original selected screenplays were each awarded $30,000 to be made as pilots, which now air from March 1. The [...]

  • Fortnite Battle Royale

    Epic Pulls 'Fortnite' Ads From YouTube After Child Predator Controversy

    Epic Games is no longer running “Fortnite” pre-roll ads on YouTube after it was discovered they were playing on videos alleged predators used to exploit children, according to The Verge. The developer has paused all of its pre-roll advertising, which plays before a video starts on the streaming platform, a spokesperson said. It also reached [...]

  • New Video Shows Off Vive Cosmos

    New Video Shows Off Vive Cosmos VR Controllers

    There’s still much to be learned about HTC’s Vive Cosmos — like release date, specs, and price — but Wednesday the company released a short teaser video giving a slightly better glimpse of the controllers in action. The new controllers look a bit like rival VR headset Oculus Rift’s Touch controller, though reversed in some [...]

  • YouTube logo

    Disney Reportedly Pulls YouTube Ads Over Child-Exploitation Controversy

    YouTube is facing yet another big advertiser backlash, with Disney and Epic Games among the marketers said to have pulled their ad spending after the Google-owned video platform was accused of facilitating what a critic described as a “soft-core pedophilia ring.” Vlogger Matt Watson, in a Feb. 17 video on his YouTube channel MattsWhatItIs, showed [...]

  • Samsung Galaxy S10, Galaxy S10+ Unveiled

    Samsung Announces Galaxy S10, Galaxy S10+ Phones

    Samsung officially announced its new flagship phones, the Galaxy S10 and its larger sibling, Galaxy S10+, at its Unpacked press event in San Francisco on Wednesday morning. The new phone features a punch-hole cut-out for its front-facing camera, which allowed the company to use an edge-to-edge screen design without the notch found on the latest [...]

  • Samsung's Galaxy Fold Unveiled at Unpacked

    Samsung Announces Galaxy Fold, a $1,980 Foldable Phone

    Samsung officially announced its new foldable phone, dubbed the Galaxy Fold, at its Unpacked press event in San Francisco Wednesday morning. The device features two screens that unfold to a tablet-sized slate. “We are giving you a device that doesn’t just define a new category, it defies categories,” said Samsung senior vice president of product [...]

  • ABC-Oscar-Game

    ABC to Launch Oscars Live Play-Along Game With $50,000 Grand Prize

    ABC is hoping to drive viewers to its host-less telecast of the 91st Academy Awards on Sunday by dangling the promise of cold, hard cash to one lucky winner. The broadcaster is launching “The Official Oscar Game,” a live game that will let viewers play along in real time during the awards presentation. The game’s [...]

More From Our Brands

Access exclusive content