Why iQIYI Is Up 10 Percent Today

11:29 08/27/2018

iQIYI, Inc. IQ  today announced it has come to a far-reaching new partnership with Ctrip CTRP , Asia's largest online travel agency and the second largest in the world. Under the agreement, iQIYI V7 VIP members will be able to enjoy all of the exclusive perks available to Ctrip's Prime Members, including discounts on hotel bookings and entry to sightseeing attractions, fast track airport security service, priority access for purchasing train tickets, as well as experience the comfort of Ctrip's airport VIP lounges. The benefits will be available to V7 VIP members for one year after activation and the offer can be redeemed before June 30, 2019. "V7" is the highest of iQIYI's seven levels of VIP membership ranking for users. Higher levels of membership are reached by accumulating points, calculated through factors such as membership payment status, number of logins and amount of content viewed. The new partnership with Ctrip will add to the extensive list of benefits available exclusively to iQIYI V7 VIP members, which already includes discounted cinema tickets, priority attendance at star-studded offline events and exclusive showings of new blockbusters. "The announcement of iQIYI's new partnership with Ctrip represents an exciting coming together of China's leading entertainment platform and China's leading online travel agency," said Yang Xianghua, Senior Vice President of iQIYI. "These additional benefits are the perfect way to thank our loyal iQIYI V7 VIP members, and are a major part of our drive to improve the user experience and benefits available to all users of our comprehensive entertainment platform." According to iQIYI's 2018 Q2 financial results, the total number of subscribing members now stands at over 67.1 million as of June 30th, 2018, up 75% from a year ago. The partnership with Ctrip follows the joint membership program announced with JD.com in April this year.

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