BEIJING, April 25, 2016 /PRNewswire/ -- iQIYI, one of the largest internet and mobile video service providers in China, today announced that as the only invited Chinese company, iQIYI participated in the World Intellectual Property Organization's (WIPO) Conference on the Global Digital Content Market, a few days before the World Intellectual Property Day. Xianghua Yang, iQIYI's Senior Vice President joined the panel with worldly famous directors and actresses, discussing the opportunities and challenges of IP protection and innovation in the digital content market in China and the world.
At the conference, Mr. Yang shared iQIYI's experience on how to balance the protection of IP rights and innovation in China's online video market. "As China's first online-only video platform providing high definition legal content, iQIYI has long been committed to IP protection. We partner with domestic and international content producers and only stream legal content in order to protect creators' rights," said Mr. Yang. "With several business lines built around IP, including online video, online gaming, literature and e-commerce and our fast growing paid-subscription model, iQIYI is also the beneficiary of the improving IP environment. The ecosystem built around IP will continue to bring great opportunities to the online video industry."
In China and markets around the world, Mr. Yang said, digital platforms have become very popular for movie distribution, and have transformed the traditional movie industry by lowering costs and increasing access to premium content.
iQIYI owns the industry's largest domestic and Hollywood movie library through partnering with over 300 movie producers and major studios, including Sony, Disney, Paramount, Lionsgate, NBCUniversal, BBC Earth, Wanda, Bona and Huayi Brothers. With premium content on its platform, iQIYI reached ten million paid streaming subscribers as of December 1, 2015, doubling in number since June 15, 2015. According to the App Annie 2015 Retrospective Report, iQIYI's app became the top first app by iOS revenue and top fifth by iOS download in China in 2015.
WIPO is a self-funded agency of the United Nations focusing on leading the development of a balanced and effective international intellectual property (IP) system that enables innovation and creativity for the benefit of all. Its Conference on the Global Digital Content Market aims to explore the solution between increased access and a sustainable economic value chain in the digital era.
Founded in April 2010, iQIYI is one of the largest Internet and mobile video service providers in China. An independently operated subsidiary of Baidu, the world's largest Chinese search engine, iQIYI is focused on providing Chinese users with the best possible online video experience, and has become an industry leader in developing innovative products and technologies.
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