Chinese streaming service iQIYI signed a multiyear film output agreement with 20th Century Fox granting it exclusive first-run subscription-streaming and transactional VOD rights in the country to the studio’s theatrical releases.
Under the terms of the pact, iQIYI will become the first online platform in China for 20th Century Fox’s movies, including “The Martian,” “The Revenant,” “Snoopy and Charlie Brown: A Peanuts Movie” and “Maze Runner: The Scorch Trials.” In addition, iQIYI customers will have access to upcoming major releases from Fox.
In December, iQIYI — an independent subsidiary of search giant Baidu — said it had reached 10 million paying subscribers for its Netflix-style service, more than doubling in six months.
The new pact between iQIYI and Fox expands on the agreement the companies struck last year that enhanced their existing library licensing deal. “This close collaboration between 20th Century Fox and iQIYI will significantly expand the content options for Chinese audiences,” said Yu Gong, founder and CEO of iQIYI.
Jim Gianopulos, chairman and CEO of 20th Century Fox, added, “We are extremely pleased to expand our partnership with iQIYI for this innovative deal to bring their subscribers first access to 20thCentury Fox’s films in China. This is another example of the continuing growth of our important relationships in this rapidly expanding marketplace.”
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iQIYI claims it has built one of the largest online movie libraries in China, stocked with both premium domestic and international titles. The company has previously announced pacts with U.S. studios including Universal Pictures, Lionsgate and DHX Media.
