iQiyi, Huace to Establish Film and TV Content JV
DoNews, 8/27/14
Online video website iQiyi, a subsidiary of Chinese internet firm Baidu (Nasdaq: BIDU), and Zhejiang-based film and TV production and distribution company Huace Film & TV (300133.SZ) have jointly announced that the two companies will form a JV named Huace iQiyi Film & TV. With Du Fang, former CEO of online video site Ku6 Media (Nasdaq: KUTV), at the helm, the new company will create original content including dramatic series and variety shows for iQiyi.com, and will adapt the content to produce related games and e-commerce products.
After the establishment of the JV, the combination of Huace's film resources and production experience with iQiyi's big data analysis ability and online platform will provide iQiyi.com with a large-scale production line of high quality online content.
In its first phase of development, Huace iQiyi Film & TV will invest a RMB 8-digit figure into creation and production of video content, with dozens of original products estimated to be finished next year. The company will also be tasked with creating games, e-commerce products, and other offerings related to iQiyi video content.
Editor's Note: For more background on this topic, please see "Rumor: iQiyi to Invest in Huace Film & TV" MD 8/04/14 issue.
Keywords: television online video JV BIDU Huace 300133.SZ iQiyi Du Fang TV content production film production content Internet
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