×
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

  • Nancy Pelosi

    Facebook on Defensive Over Fake Pelosi Video

    Facebook faced growing criticism this week over its decision not to remove a video that was doctored to suggest that House Speaker Nancy Pelosi was intoxicated during a recent public event. The video, which has been viewed more than 2.5 million times, had been slowed down notably, giving the impression that Pelosi was slurring her [...]

  • Little-Black-Mirror-Maia-Mitchell

    Netflix Launching 'Little Black Mirror' Video Series Starring Maia Mitchell, Lele Pons, Rudy Mancuso, Juanpa Zurita and More

    To promote next month’s premiere of “Black Mirror” season 5, Netflix is launching a short video series — “Little Black Mirror,” with a cast that includes an ensemble of Latinx social-media stars. The three “mini-stories,” aimed at Spanish-speaking audiences, are inspired by the tech-dystopian universe of Charlie Brooker and Annabel Jones’ anthology series. “Little Black [...]

  • Twitter

    Twitter Permanently Bans Anti-Trump Krassenstein Brothers, Who Deny They Broke Platform's Rules

    Twitter permanently suspended the accounts of Ed and Brian Krassenstein — progressive political activists famous for trolling Donald Trump and his supporters — with the company alleging the brothers used bogus accounts to amplify their reach on the platform. “The Twitter Rules apply to everyone,” a Twitter rep said in a statement. “Operating multiple fake [...]

  • Snapchat

    Snap in Talks to License Music to Let Snapchat Users Embed Songs in Posts

    Snap wants to up Snapchat’s music game. The company has been in negotiations with music companies including the big three — Sony Music Entertainment, Universal Music Group and Warner Music Group — to license song catalogs for the Snapchat app, according to two industry sources familiar with the talks, confirming a Wall Street Journal report. [...]

  • T-mobile - Netflix - John Legere

    T-Mobile Passes Netflix Price Hike Through to Subscribers

    T-Mobile is getting ready to raise prices for subscribers who have taken advantage of its “Netflix On Us” promotion: The mobile carrier will begin charging existing customers who have participated in the promotion an additional $2 per month to account for Netflix’s recent price increase. Consumers will see their bill go up starting on 6/2. [...]

  • Oona King

    Snap Hires Google Exec Oona King as First VP of Diversity and Inclusion

    Snap continues to fill out the ranks of its revamped leadership team: The Snapchat parent tapped Oona King, most recently Google’s director of diversity strategy and a former member of British Parliament with the Labour Party, as its first VP of diversity and inclusion. King, who starts at Snap on June 11, is also the [...]

More From Our Brands

Access exclusive content