'Zhengtu' to be shown on iQiyi and Netflix
Fantasy movie “Zhengtu,” or “Double World,” will be released on Chinese and global streaming websites on Friday.
The 300-million-yuan (US$42.9 million) movie has been produced by Shanghai-based game firm Giant and is based on its popular Zhengtu game series. The game has contributed 20 billion yuan to Giant over the past 15 years.
Nasdaq-listed iQiyi will charge members 12 yuan for a ticket and 24 yuan for non-members. The movie will be available for 48 hours after the purchase of a virtual ticket.
Netflix will show the movie overseas, making “Zhengtu” the first Chinese online movie to be released domestically and overseas at the same time, according to Shenzhen-listed Giant.
More people, especially younger audiences, have been going online to watch movies, a growing trend during the COVID-19 pandemic.
Producers and streaming websites are testing the water for the PVOD (premium video on demand) model, the companies said.
This charges users additional fees for the latest movies and blockbusters, giving film producers and streaming websites an income after the pandemic hit cinemas and the traditional film industry.