KUALA LUMPUR (April 1): Media Prima Bhd’s distribution agreement with iQIYI will not impact the latter’s deal with Astro Malaysia Bhd.
Speaking at a press conference after the launch of its Best Euro 2020 Viewing Experience today, Astro commercial director Azlin Arshad said its relationship with iQIYI has not changed.
“We are still a distributor for iQIYI. In that sense, the relationship has not changed,” said Azlina, stressing that the content and arrangements between Astro and iQIYI have remained the same.
She explained that Astro customers are given a substantial discount for the iQIYI Premium Pack.
Astro had first announced its deal with iQIYI in 2019, marking at that time the first launch of its video streaming app outside of China.
Media Prima announced its deal with iQIYI on March 23, where iQIYI signed on to provide an exclusive first window broadcasting rights to the majority of Media Prima-owned TV3’s locally produced and highest-rated primetime dramas.
iQIYI is a Baidu-backed streaming platform in China.
Shares in Astro closed 3.13% or three sen higher at 99 sen, valuing it at RM5.16 billion. Meanwhile, Media Prima shares closed 2.42% or 1.5 sen higher at 63.5 sen, valuing it at RM704.34 million.
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