iQIYI Hits 20 Million Users

Chinese video site iQIYI has announced that it has hit over 20 million paying users, only six months after passing the 10 million mark.Founder of iQIYI, Yu Gong, said that the achievement reflected the growing market which had “taken off”.Believed it to be the cause of a growing willingness in China to pay for online streaming content, the company has seen huge success with programs like The Lost Tomb and Descendants of the Sun being viewed over 18 billion times in the last 12 months.The company's majority is owned by Baidu, and has suppliers in Hollywood such as Paramount Pictures and 20th Century Fox, and has just announced a separate app that will target children called iQIYI Cartoon Home.