Over the weekend, iQIYI Inc. (NASDAQ: IQ) announced their partnership with China’s leading online travel agency, Ctrip. Ctrip is not only the leading online travel agency in China, but they are the 2nd largest in the world.
iQIYI uses a ranking system built on accumulating points through simply using and paying for their site. The site offers an array of discounts and offers geared towards entertainment services, but the partnership with Ctrip will open up current iQIYI users to many more offers.
The partnership is made to benefit iQIYI’s V7 VIP members allowing them to now utilize Ctrip’s Prime Members services. These include common travel packages such as expedited airport screening, priority train tickets, and discounts on hotels and bookings.
By pairing premium iQIYI users with Ctrip’s exclusive offerings for travel services, both companies have strategically used each other positions in the market to fill their customers needs further without incurring huge capital costs. iQIYI’s subscribing members already up 75% year-over-year at a total of 67.1 million as of June 30th of this year.
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 please visit http://ir.iqiyi.com/