iQiyi Spends RMB 200 Mln on Online Broadcast Rights
Tencent Tech, 11/07/13
Chinese internet firm Baidu's (Nasdaq: BIDU) online video subsidiary iQiyi has obtained the exclusive online broadcast rights for the 2014 seasons of five television shows, including Dad, Where Are We Going?, Kangxi Lai Le, Happy Camp, Day Day Up, and Your Face Sounds Familiar. iQiyi paid more than RMB 200 mln for the broadcasting rights, according to an industry source. iQiyi has also purchased exclusive broadcasting rights for content from eight other major television stations, including South Korea's MBC and Taiwanese TV stations Taiwan Culmination Television, EBC, and SEC TV.
Gong Yu, CEO of iQiyi, has disclosed that sales of the company's "TV+" smart TV, jointly developed by iQiyi and Chinese television manufacturer TCL Multimedia (1070.HK), have reached approximately 40,000 units. 700,000 units of iQiyi's internet TV set-top box (STB), jointly developed in cooperation with media company Galaxy Internet Television and consumer electronics manufacture Skyworth Digital Holdings (0751.HK), were sold in the first seven days after pre-sales began on September 25, but current monthly production capacity now stands at only 100,000 units.
Keywords: Gong Yu Internet online video Baidu TV set broadcasting rights set-top box Skyworth TCL Multimedia 0751.HK 1070.HK BIDU smart TV iQiyi Galaxy Internet Television content
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