Lionsgate has signed with online video platform iQIYI a long-term output deal for a number of high-profile Lionsgate and third-party feature films.
The agreement covers subscription video on demand (SVOD) and transactional video on demand (TVOD) rights for films streaming on iQIYI's platforms, which has 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 Hunger Games: Mockingjay – Part 2; Allegiant; Now You See Me 2; and Deepwater Horizon.
The package also includes such eagerly anticipated Lionsgate releases as the revenge thriller Sicario, starring Benicio del Toro, Josh Brolin and Emily Blunt; the teen thriller Nerve; The Shack, starring Sam Worthington and Octavia Spencer; and the musical love letter LaLa Land that teams Ryan Gosling and Emma Stone.
"iQIYI 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," said Wendy Reeds, Lionsgate's EVP of international sales.
Yang Xianghua, SVP of iQIYI, said that 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,” said Yang.