iQIYI Expands Library of Top International Films
CANNES, France, May 8, 2018
iQIYI, Inc., an innovative market-leading online entertainment service in China, today announced at the Cannes Film Festival that it has inked an exclusive three-year output deal with FilmNation Entertainment, a leading US independent film production and international sales company. According to the output deal, iQIYI will have exclusive VOD rights to all FilmNation films for the next three years in mainland China.
This form of cooperation with a Chinese company is a first for FilmNation. The partnership supports iQIYI’s vision of bringing the world’s finest film content to its Chinese users while promoting cultural exchange and mutual understanding.
Founded in 2008, FilmNation Entertainment specializes in producing, financing and distributing independent films, and is known for its signature mix of artistic creativity and commercial potential. It is consistently ranked as one of the most successful independent film companies in the world, with numerous productions winning honors at Cannes and the Academy Awards, including 2017’s “Arrival,” which received 8 Oscar® nominations including Best Picture and Best Director and 2018’s “The Big Sick.” Many major companies like Amazon, Paramount and Sony have acquired distribution rights to FilmNation films.
“We are thrilled to have this exclusive partnership with iQIYI, China’s most exciting and innovative content streaming platform,” said FilmNation’s Robert Carney. “Through this partnership, more Chinese movie fans than ever before will be able to experience many of the best independent films from some of the world’s most exciting directors.”
“Following on the heels of our strategic cooperation agreements with entertainment companies such as Fox, Disney, Sony, and Netflix, this exclusive partnership with FilmNation represents the next step of iQIYI bringing subscriber members an ever more international selection of high quality contents,” said Yang Xianghua, senior vice president of iQIYI. “Through our partnership with FilmNation, iQIYI users will enjoy convenient access to the premium films around the world.”
As iQIYI works unceasingly to bring its users a growing roster of high-quality films, the company is also becoming a respected content producer in its own right. This year, the iQIYI-produced film “The Pluto Moment,” directed by Chinese director Zhang Ming, was chosen as one of twenty selections from around the world for the prestigious Cannes-adjacent independent film festival, Directors Fortnight.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI’s platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce etc.
About FilmNation Entertainment
FilmNation Entertainment is a leading distributor, financier and producer of independent films and is a destination for many of the world’s most renowned filmmakers including Steven Soderbergh, Terrence Malick, Pedro Almodóvar, Jonathan Glazer, Sofia Coppola, Jeff Nichols, J.C. Chandor, Rian Johnson, Anton Corbijn, Lenny Abrahamson, Denis Villeneuve, and John Lee Hancock. Founded in 2008 by veteran film executive Glen Basner, FilmNation has established itself as a home for specialty filmmaking with global appeal by focusing on a highly selective group of filmmakers and projects that emphasize both creative integrity and commercial potential. FilmNation is consistently ranked as one of the highest-grossing independent international film distributors.