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iQIYI Continues to Support Revenue Sharing Model with Revenue for Shining for One Thing Reaching RMB 100 Million
iQIYI, an innovative market-leading online entertainment service in China, announced recently that Shining for One Thing, a series that streams exclusively on iQIYI via the revenue sharing model, topped RMB 100 million in the revenue it generates, showcasing the success of iQIYI’s revenue sharing model in facilitating commercial gains for quality content. iQIYI will continue to work with producers and help driving the creation of premium content by supporting producers financially and offering premium content promotional and other platform services.
YANG Haitao, iQIYI Senior Vice President, said: “iQIYI sees great importance in shows that streams via the revenue share model. In the past almost seven years, the category market has grown and matured, allowing the emergence of more and more premium content, which in turn has attracted a strong following of viewers. As a platform, iQIYI continues to focus on content quality and will make sure that content that premiums through the revenue sharing gets the same degree of exposure as do other content categories.”
According to Enlightent, the first half of 2022 saw the online premiere of 33 new shows via the revenue sharing model, 23 of which streamed on iQIYI, representing an increase of 4% year on year. The revenues generated by dramas that streams on iQIYI via the model—including Shining for One Thing, The Case Solver series, Nothing but You, and Time to Fall in Love—have exceeded RMB 100 million, RMB 70 million, RMB 28 million and RMB 27 million, respectively.
Growing support from the platform and the deepening experience of producers in creating high-quality works both accounted for the rapid development in revenue sharing dramas. Overall, the direct access subscription users have to appealing content propels the revenue sharing drama market to enter a positive cycle of development.
The introduction of the revenue sharing model has created a fair and just distribution channel and helped diversify the income models for the Chinese online content market. In the future, iQIYI will continue to refine its service so that more producers of premium works can reap the commercial returns they deserve.
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