Lionsgate (LGF) Enters Licensing Agreement with China's iQIYI
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In a move further extending the reach of its global content platform, Lionsgate (NYSE: LGF) has signed a new long-term output deal for a broad range of commercially exciting feature films and a number of prestigious Lionsgate library titles with China's largest comprehensive online video platform, iQIYI, the two companies announced today.
The agreement covers subscription (SVOD), transactional (TVOD), and advertising video-on-demand (AVOD) rights for films streaming on iQIYI's platform in China, which includes over half a billion unique users. iQIYI will have exclusive streaming rights in China to Lionsgate theatrical titles covered by the agreement, enable broadcasting of the titles and launch a major promotional commitment to them on its platform.
iQIYI, which has been streaming Lionsgate titles in China since last fall, served as Lionsgate's promotional partner earlier this year on the global blockbuster Now You See Me 2, the highest-grossing Lionsgate film ever released at the Chinese box office.
The deal includes upcoming titles such as Otto Bathurst's eagerly-anticipated Robin Hood, starring Jamie Foxx and Taron Egerton, Lionsgate/CBS Films' Patriots Day, the acclaimed AFI Fest closing night dramatic thriller about the manhunt for the Boston Marathon bomber directed by Pete Berg and starring Mark Wahlberg, The Glass Castle, based on the worldwide best-seller and starring Brie Larson, Naomi Watts and Woody Harrelson, Lionsgate/CBS Films' American Assassin, starring Michael Keaton and Dylan O'Brien in the counter-terrorism thriller, and the uplifting Wonder, starring Academy-Award® winner Julia Roberts, Owen Wilson and The Room's Jacob Tremblay.
"We're delighted to expand our relationship with iQIYI, a world-class platform at the cutting edge of delivering premium quality films to online Chinese audiences," said Lionsgate Executive Vice President of International Sales Wendy Reeds. "We have collaborated with iQIYI on the promotion and distribution of some of our biggest releases in China, and our new agreement represents a great opportunity to bring a slate of blockbuster films and a deep portfolio of library titles to one of the largest and fastest-growing markets in the world."
"Lionsgate has emerged as a major creative force in the global marketplace, and we're proud to continue adding their incredible pipeline of star-driven movies to our platform," said Yang Xianghua, senior vice president of iQIYI. "iQIYI already has the largest online movie library in China, and this agreement with one of Hollywood's major studios significantly expands the selection of premium quality movies we will bring to our audiences."
The agreement was negotiated for Lionsgate by Senior Vice President International Business & Legal Affairs Christian Perala based in the Company's London office.
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