Santa Monica-based Lionsgate and iQIYI, China’s largest online video platform, announced Tuesday a long-term deal under which the Chinese firm will have exclusive rights to stream select Lionsgate titles.
The agreement will make Lionsgate films available to more than 500 million users, a joint statement said. The two companies did not say how much their deal is worth.
Tuesday’s announcement does not represent the first case of cooperation between Lionsgate and iQIYI, which has been streaming Lionsgate titles in China since last fall and served as Lionsgate’s promotional partner earlier this year on the film “Now You See Me 2,” which the statement called the highest- grossing Lionsgate film ever released in China.
The deal announced Tuesday includes upcoming titles such as “Robin Hood” starring Jamie Foxx, the Lionsgate/CBS Film “Patriots Day,” about the manhunt for the Boston Marathon bomber, the counter-terrorism thriller “The Glass Castle,” Lionsgate/CBS Films’ “American Assassin,” and “Wonder,” starring Julia Roberts.
“We’re delighted to expand our relationship with iQIYI, a world-class platform at the cutting edge of delivering premium quality films to online Chinese audiences,” said Lionsgate Executive Vice President of International Sales Wendy Reeds.
“We have collaborated with iQIYI on the promotion and distribution of some of our biggest releases in China, and our new agreement represents a great opportunity to bring a slate of blockbuster films and a deep portfolio of library titles to one of the largest and fastest-growing markets in the world.”
iQIYI Senior Vice President Yang Xianghua responded: “Lionsgate has emerged as a major creative force in the global marketplace, and we’re proud to continue adding their incredible pipeline of star-driven movies to our platform.”
He said iQIYI already has the largest online movie library in China, “and this agreement with one of Hollywood’s major studios significantly expands the selection of premium quality movies we will bring to our audiences.”
