BEIJING, June 16, 2015 /PRNewswire/ -- iQIYI, an
independently operated subsidiary of Baidu (NASDAQ: BIDU) and one
of the largest internet and mobile video service providers in
China, today announced that the
company's paid streaming subscribers have reached five million as
of June 15, 2015, a 765% annual
increase.
"The success of iQIYI's paid subscription model demonstrates the
strong demand of Chinese audience
for online-video platforms with high-quality content. Users'
willingness to pay for content reflects the huge opportunity and
potential for iQIYI and the online-video market in China," said Yu
Gong, founder and CEO of iQIYI. "As iQIYI continues to
enrich its content and to improve services for our members, we are
confident that iQIYI's subscription business will continue to
experience rapid development."
"Most of iQIYI's users were born
after 1980s and understand the
value of content," said Xianghua
Yang, Senior Vice President of iQIYI. "With 5 million paid members, iQIYI is the
industry leader in terms of paid
subscribers. However, this is still a small portion of our over 500
million users, and we expect that the future conversion rate to
paid members could be substantial."
iQIYI's paid subscription provides a wide range of premium
content to members. In 2014, iQIYI hosted over 60% of the movies
played in cinemas in China. Over
80% of movies whose box office income exceeded 100 million RMB in China in 2014 can be found on iQIYI, along
with over 400 internet-only movies.
In the future, iQIYI will continue to provide more excellent
domestic and international content to members. In 2015, iQIYI plans
to acquire approximately a thousand titles from
Hollywood.
About iQIYI
iQIYI, launched on April 22, 2010,
is an independently operated subsidiary of Baidu, the world's
largest Chinese search engine. Since its launch, iQIYI has pursued
the ultimate online video experience for Chinese users, becoming an
industry model in promoting innovation in products, technologies,
and marketing.
On May 7, 2013, iQIYI announced a
merger with PPS. According to IUT data released by iResearch in
December 2014, iQIYI and PPS were
among the leaders in the industry in terms of all-platform unique
visitors and monthly effective viewing duration. As of December 2014, iQIYI's mobile app
(including iQIYI and PPS) was running on 860 million devices, with
mobile traffic accounting for 63% of the sites' total traffic. The
monthly viewing time on iQIYI and PPS surpassed 1 billion hours for
three successive months in 2014. According to data from November
and December 2014, mobile accounted
for 1.17 billion hours of monthly viewing time on iQIYI, and PCs
accounted for 1.15 billion hours. Unique visitors per day on iQIYI
reached 44.27 million on mobile devices and 44.18 million on
PCs.
In the future, iQIYI will continue to pursue providing customers
with ever richer video content and a ceaselessly improving viewing
experience.
For media inquiries, please contact:
iQIYI Inc.
Sophie Yu
Director of International Communications
yuxiaofei@qiyi.com
Foote Group
Yajun Zhang
+86 (10) 8429-9544
yajun@thefootegroup.com
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SOURCE iQIYI