iQIYI tops 20MN paid subscribers to VOD service | VOD | News | Rapid TV News
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Digital video platform iQIYI now counts over 20 million people as subscribers to its streaming service in China, the Baidu subsidiary has announced.

The number of subscribers to iQIYI’s video-on-demand (VOD) service has doubled since the beginning of December 2015 which, says a company statement, signifies ‘a significant trend in China that more people are willing to pay for good content’.

“Reaching the 20 million in paid subscription indicates the strong demand among Chinese online viewers for paid video services and this market has just taken off,” Yu Gong, founder and CEO, iQIYI, said at the Shanghai International Film Festival.

“iQIYI is actively expanding into the market to cover subscribers of all ages. We hope each family with an iQIYI VIP account can get personalised content and services that best suit their needs.”

iQIYI also talked about its new app for children, called iQIYI Cartoon Home, which will be available to subscribers without additional cost. Providing content from Disney, DreamWorks Animation and BBC, the app already has three million active viewers.

In July 2015, iQIYI launched a premium service to allow paid subscribers to get earlier or exclusive access to 29 major shows, which include self-produced drama, The Lost Tomb, and popular Korean TV show, Descendants of the Sun. iQIYI claims the shows have been viewed 18.7 billion times during the past year.

“The well-received blockbuster shows have helped iQIYI generate a lot of interests in our paid services, drawing large number of subscribers who are willing to pay for good contents,” said Xianghua Yang, senior vice president of iQIYI.

iResearch data shows 295 million people had accessed iQIYI via its mobile app by the end of April and 360 million people use iQIYI via personal computers.

Yang added: “behind each popular show streamed on iQIYI are our largest number of viewers, reliable technology and effective promotion which consistently match our subscribers with video contents they need”.

iQIYI has committed to continue sourcing premium shows worldwide by working closely with global content providers, and says it expects to continue adding subscribers to its premium VOD service at a similar rate over coming years. According to App Annie’s report in 2015, the company was ranked top in terms of revenue among all non-game apps in China.