Technology Stocks

iQIYI, Inc. (NASDAQ:IQ) and Ctrip (NASDAQ:CTRP) Expand Joint Membership Benefits

iQIYI, Inc. (NASDAQ:IQ) is gaining new heights and strengthening to surpass its 200-day MA of $24.67. Here is another update from the company.

iQIYI has announced a deepening of its partnership it the mutual premium membership benefits with fellow Chinese Ctrip. The expanded strategic cooperation is an expansion on the agreement the two firms reached last year. Now it means that those who will be buying iQiyi Diamond VIP or the QIYIGUO premium benefits will get Ctrip Prime Members benefits, while those joining Ctrip Prime be able to activate the eight-month iQiyi VIP membership.

The Premium Benefits

Ctrip and iQIYI, a leading online travel platform and a leading online entertainment platform in China respectively, have taken an extra mile in strengthening their partnership. Their partnership gives their customers access to the premium products for both platforms.

For instance, those buying on the iQIYI platform will enjoy the benefits of Ctrip prime members like the use of VIP airport lounges, discounts on the hotel bookings as well as priority when purchasing of the train tickets. Conversely, those purchasing Ctrip prime membership will be able to claim an eight-month-long iQIYI VIP membership as well as gain access to exclusive online content, attend various offline events and also get members-only audio-visual experiences.

Strengthening the Future

Strengthening the partnership between the two seeks to build on an agreement in the membership benefits the two announced last year. According to the initial deal, iQIYI VIP members were granted with all benefits available to Ctrip prime members at no cost. Almost 99% claimed the benefits on Ctrip.

According to Yang Xianghua, president of iQIYI’s membership and overseas business group, the primary objective is to establish an ecosystem to help serve the users better on both entertainment and trips whether at home or the users are on the road. He further added that expanding the cooperation with partners is substantial in maximizing the value they provide for subscribing members.

Given the fact that the Chinese customers are more than willing to pay for the premium services is an indication that there’s a creation of a growing market. iQIYI is doing everything to make sure it steps forward even entering to various partnerships like with e-commerce platform

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