iQIYI Inc. (NASDAQ: IQ) (“iQIYI” or the “Company”), an innovative market-leading online entertainment service in China, recently announced a new wide-ranging partnership with China Mobile and MIGU, China Mobile’s integrated music and video streaming app. Announced at the 2018 China Mobile World Partners Conference in Guangzhou, the partnership covers combined membership packages and deals in mobile data for video.
This partnership will allow users a richer mobile experience and open up horizons for both sides to explore new paths in combined paid membership packages and mobile data services. The “membership + mobile video data” package will allow Chinese consumers premium access to enjoy both services, automatically receiving all the benefits of iQIYI VIP Members and MIGU Video premium members. The jointly promoted deal also includes 30G of mobile data for use on both the iQIYI app and MIGU’s video app.
“iQIYI is always looking for ways to improve the benefits of our VIP members and this partnership with China Mobile and MIGU, China Mobile’s premier integrated music, video and gaming app, will allow them to benefit from a new comprehensive 5G video entertainment ecosystem,” said Duan Youqiao, Senior Vice President at iQIYI. “The combination of iQIYI and China Mobile’s resources is sure to be a force to be reckoned with in China’s online entertainment space.”
“MIGU is honored to partner with iQIYI, China’s most innovative online entertainment service, on this joint membership program,” said Yan Zhongwei, Vice General Manager at MIGU. “We are sure China Mobile users will be delighted at the prospect of iQIYI’s vast catalogue of premium video content being added to MIGU’s video platform, and we are looking forward to developing a close relationship with iQIYI going forward.”
As the largest mobile communications operator in the world, China Mobile has taken the lead in bringing 5G to provinces and cities across the country, with China Mobile users enjoying special advantages in bandwidth and traffic. iQIYI is one of China’s online leading entertainment services, producing mega-hit original content such as “Idol Trainer” and “Story of Yanxi Palace.”
According to the 2018 “China Internet Audiovisual Development Entertainment Report,” China had 609 million online video users and 578 million mobile video users as of June 2018. This partnership between iQIYI and China Mobile marks the first cooperation between an internet video platform and mobile operator, a partnership that is expected to deepen as the mobile market continues to grow and become more sophisticated.
