JD.com and iQIYI Joint Membership Program Attracts a Combined One Million Users in the First Week

BEIJING, May 9, 2018 /PRNewswire/ -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, announced that in the one week since the April 27 launch of its joint membership program with China's largest online retailer JD.com, over one million users from both sides have signed up.

"We are thrilled to see consumers rushing to take advantage of the many benefits of our joint membership package with JD," said Yang Xianghua, senior vice president of iQIYI. "As Chinese consumers become more willing to pay for premium online services – whether in entertainment or retail –  we are confident that subscription offerings that offer outstanding value will continue to increase in popularity."

iQIYI and JD announced an exclusive strategic partnership earlier last week to link their membership programs, with the aim to provide high quality cross-platform services to members and explore high-value opportunities in the online paid service market.

Under the cooperation, users who purchase one-year memberships for either iQIYI or JD will be able to enjoy the premium service and benefits of both platforms. iQIYI paid members will receive access to the wide range of benefits provided by JD Plus, JD's premium membership program, including an array of special prices for selected products, coupons for free delivery, exclusive customer service and other exclusive benefits. JD Plus members will be able to enjoy the many benefits of iQIYI's VIP paid membership program, including exclusive content, ultra-high quality streaming video, participation in online events and access to selected film and television-related products.

In recent years, China has seen a remarkable increase in the number of users willing to pay for premium membership services and content, as reflected in the strong growth of both iQIYI's VIP paid subscription services and JD's JD Plus. The already hot market for such services is expected to continue to grow rapidly over the next few years, both in terms of user base and ARPU.

With over 61 million subscribers already, iQIYI will continue to develop and add to its paid membership program that features a wide range of benefits such as exclusive access to over 10,000 Chinese and foreign films, iQIYI original content, ad-free streaming, high definition video and Dolby Audio.

About iQIYI, Inc.

iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company") is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce etc. For more information on iQIYI, please visit http://ir.iqiyi.com.

SOURCE iQIYI, Inc.