iQiyi gets rights to broadcast 800 Paramount movies

US-based Paramount Pictures and Baidu's online video subsidiary unit iQiyi have signed a deal for the Internet broadcasting rights on 800 Paramount’s films and future movies.The 800 films to be featured on the iQiyi platform include classic movies such as The Godfather, Forrest Gump and Ghost, as well as successful commercial films like the Transformers series, the Mission: Impossible series, Shrek, Terminator, Kung Fu Panda and Madagascar.This is the first and the largest deal between one of the big six Hollywood studios and a Chinese online video platform. iQiyi will be responsible for online distribution, marketing and promotion.The online video platform claimed to have reached five million paid subscribers with around 6,000 films in its library from China, US, Japan, South Korea, India and countries from Europe.iQiyi said that it plans to buy distribution rights to more than 1,000 U.S. movie titles and produce seven local films and one Hollywood-style film next year.