Chinese media giants Tencent and iQiyi are reportedly exploring a merger that could create the world’s biggest streamer, with more subscribers than Netflix. Tencent is looking to become a majority shareholder in arch-rival iQiyi, according to Reuters, with the strategy designed to reduce both service’s costs and counter competition. iQiyi, which earlier this month hired […]
A consortium led by the boss of Chinese search conglom Baidu has dropped its US$2.3 billion offer to acquire 80.5% of compatriot on-demand player iQiyi. Baidu chairman and CEO Robin Yanhong Li and Qiyi.com chief exec Yu Gong fronted a special committee’s offer to acquire the business from Baidu back in February. They have now […]
Google remains the biggest media owner in the world and has extended its lead over second-placed Disney in the latest rankings. ZenithOptimedia compiles the roster of the world’s top media owners and issued its latest findings this morning. Google holding company Alphabet was the clear leader, ahead of Walt Disney. The internet giant was 136% […]
Chinese search giant Baidu has received a buyout offer for its video site Qiyi, which values the service at US$2.8 billion. In a statement, Baidu said it had received a non-binding proposal from Baidu chairman and CEO Robin Yanhong Li and Qiyi CEO Yu Gong for the 80.5% share in Qiyi that is owned by Baidu. “Pursuant to […]
Chinese online video site iQiyi has revealed it will purchase or produce around 40 shows next year for its subscription on-demand service. The Baidu-owned platform’s investment will account for around 50% of its full year 2016 budget. The firm’s in-house production Notes of Tomb Raiders has performed well, while the recently-launched Shu Shan Zhan Ji […]
Beijing Xiaomi Technology has invested US$63 million into Chinese streaming and on-demand site iQiyi as has one of its other existing backers, Baidu, according o Chinese reports. Beijing Xiaomi is one of China’s largest smartphone makers. The consumer electronics firm will also invest in Chinese video sites Youku Toudu and the pair will codevelop new […]
Chinese on-demand service iQiyi has revealed it will acquire more than 1,000 US feature films next year. This is to “satisfy growing demand” from users for content from the States, Baidu-owned iQiyi said. In June this year, iQiyi subscribers watched more American films than Chinese-language movies for the first time. iQiyi CEO Gong Yu last […]
Chinese web giant Baidu has revealed a surge in its content investment, with higher costs relating to its Hulu-style on-demand service iQiyi. Third quarter results showed Baidu, which is the largest Chinese-language internet search provider, had ploughed US$81.2 million in content in the three months to September 30. This equates to 3.7% of Baidu’s overall […]
China’s largest internet provider Baidu has acquired a local video on-demand platform for US$370 million, a move that makes it the territory’s largest VOD player by some counts. The acquisition of the online video business of Shanghai-based PPS will place Baidu in deeper competition with the current market leader, Youku-Tuduo. Baidu will merge PPS with […]
