We define a new notion of information cost for quantum protocols, and a corresponding notion of quantum information complexity for bipartite quantum channels, and then investigate the properties of such quantities. These are the fully quantum generalizations of the analogous quantities for bipartite classical functions that have found many applications recently, in particular for proving communication complexity lower bounds. Our definition is strongly tied to the quantum state redistribution task. Previous attempts have been made to define such a quantity for quantum protocols, with particular applications in mind; our notion differs from these in many respects. First, it directly provides a lower bound on the quantum communication cost, independent of the number of rounds of the underlying protocol. Secondly, we provide an operational interpretation for quantum information complexity: we show that it is exactly equal to the amortized quantum communication complexity of a bipartite channel on a given state. This generalizes a result of Braverman and Rao to quantum protocols, and even strengthens the classical result in a bounded round scenario. Also, this provides an analogue of the Schumacher source compression theorem for interactive quantum protocols, and answers a question raised by Braverman. We also discuss some potential applications to quantum communication complexity lower bounds by specializing our definition for classical functions and inputs. Building on work of Jain, Radhakrishnan and Sen, we provide new evidence suggesting that the bounded round quantum communication complexity of the disjointness function is \Omega (n/M + M), for M-message protocols. This would match the best known upper bound.