On-demand video streaming platform iQiyi (爱奇艺) has inked an exclusive three-year deal with American independent film production company FilmNation, granting it exclusive rights to all of FilmNation’s content in mainland China.
Our sister site reported that the signing of the agreement is the first time FilmNation has reached such a deal with a Chinese company.
The American firm has produced numerous big-name films including Arrival and The Big Sick.
This is not the first time iQiyi has signed a cooperation agreement with an international production company. It has previously worked with Sony, Fox, Disney, and Netflix.
In one of the most anticipated IPOs in 2018, the Nasdaq-listed company went public in March after filing for an offering size of $1.5 billion. In it’s latest financial results, iQiyi said it expected to raise $2.36 billion in net proceeds from its IPO.
In April, the company reported a 57% increase in revenue, driven by membership services and advertising. iQiyi attributed the growth to the release of original content and initiatives during Chinese New Year. In the last three months of 2017, the company had 421.3 million monthly active users and 126 million active daily mobile users.