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Lionsgate signs licensing agreement with Chinese video platform iQIYI for film slate
MUMBAI: US media company Lionsgate has signed a long-term output deal for a number of Lionsgate and third-party feature films with Chinese online video platform iQIYI.
The agreement covers subscription video on demand (SVOD) and transactional video on demand (TVOD) rights for films streaming on iQIYI’s platforms, which possess over 500 million unique users.
iQIYI will have an exclusive SVOD and TVOD window for Lionsgate theatrical titles covered under the agreement, and iQIYI will enable broadcasting of these titles and make a major promotional commitment on their platform for them.
The package comprises Lionsgate franchises, potential tentpoles and star-driven event films including the next chapter of ‘Hunger Games’ franchise, ‘The Hunger Games: Mockingjay — Part 2’, whose first three films have already grossed more than $2.3 billion at the worldwide box office; the next film in the ‘Divergent’ franchise, the Divergent Series: ‘Allegiant’, ‘Now You See Me 2’ and the action thriller ‘Deepwater Horizon’.
The package also includes the revenge thriller ‘Sicario’ the teen thriller ‘Nerve’; ‘The Shack’and the musical love letter ‘LaLa Land’.
Lionsgate executive VP international sales Wendy Reeds said, “We’re thrilled to partner with iQIYI, a major game changer and one of the largest and fastest-growing digital platforms in China. They will provide a quality showcase for our slate of high-profile event movies, and our agreement underscores our commitment to innovation and leadership in delivering premium content to online audiences around the world.”
iQIYI SVP Yang Xianghua added, “In China, more and more people are paying to watch movies online. iQIYI has the largest online movie library in China and we have been actively purchasing premium movie content and building in-depth partnerships with industry players. We have enjoyed a positive long term relationship with Lionsgate and with this agreement we are delighted to extend and deepen our cooperation to areas including broadcast, promotion and distribution. We hope that this cooperation between Lionsgate and iQIYI will not only bring Chinese users an even better selection of premium movies but will also promote more innovative partnerships in China’s online video industry.”