iQiyi Makes its Debut in The Australian Entertainment Market
Elena Rahman — April 26, 2021 — Tech
References: iq & artshub.au
iQiyi streaming platform is entering the Australian subscription video market this coming May. By bringing Asian content into the local Australian market, the Beijing-based company is taking its first steps toward delivering pan-Asian entertainment to an international audience.
Mumbrella reports iQiyi as one of the biggest international streaming platforms since its 2020 launch, with over 500 million monthly subscribers. Approximately six billion hours of content is streamed through iQiyi each month. iQiyi's Australian launch promises a "deep, content-rich catalog for the local Asian community including world-renowned drama series, movies, variety shows, and documentaries, not just from China, but from across the broader APAC Region."
The iQiyi streaming platform will offer Australian users two different consumption tiers. The free version will be supported by advertisements for a cost-efficient experience. A premium version of the monthly subscription offers add-free entertainment.
Image Credit: artshub.com
Mumbrella reports iQiyi as one of the biggest international streaming platforms since its 2020 launch, with over 500 million monthly subscribers. Approximately six billion hours of content is streamed through iQiyi each month. iQiyi's Australian launch promises a "deep, content-rich catalog for the local Asian community including world-renowned drama series, movies, variety shows, and documentaries, not just from China, but from across the broader APAC Region."
The iQiyi streaming platform will offer Australian users two different consumption tiers. The free version will be supported by advertisements for a cost-efficient experience. A premium version of the monthly subscription offers add-free entertainment.
Image Credit: artshub.com
Trend Themes
1. Expansion of Asian-content Streaming Services - iQiyi's Australian launch highlights the growing market potential for Asian-content streaming services globally.
2. Subscription-based Streaming Services - iQiyi's offering of both a free ad-supported tier and a premium ad-free monthly subscription tier aligns with the trend of double-pricing strategies in the streaming industry.
3. Globalization of Streaming Services - iQiyi's international expansion indicates a trend of streaming platforms diversifying and expanding their content and services to a global audience.
Industry Implications
1. Streaming Media Industry - iQiyi's international expansion adds to the disruptive potential of the streaming industry to challenge traditional broadcast media.
2. Advertising Industry - The advertisement-supported tier of iQiyi's streaming service presents an advertising opportunity for brands looking to target the Asian community in Australia.
3. Entertainment Industry - iQiyi's expansion into the Australian market signals a growing demand for Asian entertainment content, presenting opportunities for Asian content creators and distributors to expand their reach.
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