Art house films a lifeline for video sites
Print Edition
ART house films and self-produced dramas have started contributing income to Chinese video websites which aim to turn a profit after losing money for several years, Shanghai Daily learned at the Shanghai International Film Festival yesterday.
Youku Tudou aims to cash in through art house films even though their investment returns are limited in off-line cinemas compared with Hollywood titles.
“The Internet is the new stage and distribution platform for art house films,” said Zhu Huilong, Youku Tudou’s senior vice president.
The website launched the new Art Film Platform which offers art house films to 20 million people. The platform has received 200 million clicks.
It has signed with a Chongqing-based wine firm as a strategic partner and sponsor. Yukou Tudou aims to find other corporate sponsors on the channel which will broadcast the “Golden Era” directed by Ann Hui, and North by Northeast by Zhang Bingjian.
IQiyi, one of the top Chinese video websites, has drawn 100 million clicks since debuting a new drama, “The Lost Tomb,” last Friday and aims to draw more users through this drama.
IQiyi has 500 million paid VIP users by June, accounting for 1 percent of its total user base, and the company sees a great growth potential.
“We spent several years to reach the first 5 million VIP users but we can get the next 5 million within a year,” Gong Yu, IQiyi’s chief executive, said.
In the industry, paid VIP users can watch online videos without advertisements and VIP-only films.
Baidu-invested IQiyi, which owns copyright to over 6,000 films, is now the country’s biggest online film database.
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