BEIJING, May 17, 2021 /PRNewswire/ -- iQIYI, Inc.
(NASDAQ:IQ) ("iQIYI" or 'the Company'), an innovative
market-leading online entertainment service in China, announced the upcoming releases of a
number of new series at its annual iQIYI World Conference ('the
Conference') held in Shanghai on
May 13 and 14. At the Event, the
Company presented on its innovative approach to content
creation and the reshaping industrial production
ecosystem. The Company also shared its views on how quality
content along with the application 5G, AI, VR and other new
technology are going to cater to audiences' entertainment
needs.
"iQIYI is committed to providing today's youngsters with the
best entertainment experience by focusing on delivering
quality entertainment and an integrated online-offline
experience through its
content and technology powered approach," said
Vivian Wang, CMO and President of
New Consumer Business Group of iQIYI.
At the Conference, iQIYI outlined how it will continue to
provide high-quality content to its subscribers, advertisers, and
partners. The Company also shared how it will create sustainably
effective marketing solutions for sponsors based on insights into
content production and youth consumption. More than 200 upcoming
titles were announced at the Conference including drama series such
as The Ideal City, Age Troops,
and FENGQILUOYANG; short-running dramas from
iQIYI's signature "Light On Theater (Mist Theater)"
including Who is The Murderer, Golden
Planning, Wisher, The Pavilion; and
reality shows such as Zeenage POP, Born to
Dance, Generation Z-Hiphop Project and
Action.
In addition to delivering more premium content, iQIYI also seeks
to further enhance the user experience that its platform delivers.
To achieve this, iQIYI announced at the Conference the launch of
its open membership platform in aim provide its users with a more
tailored and engagement membership service system by deepening its
partnerships with content, product, technology and service
providers.
iQIYI Unveils Plans for Development of Content
Verticals
"Going forward, the film and TV industry should be more
focused, and aim to continue to produce respectable works and work
with partners to achieve a respectable industry
environment," said Wang Xiaohui, Chief Content Officer
of iQIYI.
iQIYI pledged to further accelerate innovation, tapping into new
verticals and deepening the development of platform content.
For variety shows, iQIYI will focus on producing content based
on the unique needs of younger audiences, who tend to put greater
value on content that emphasizes the social, trend-setting and
personalized aspects. "iQIYI seeks to utilize more innovative
content formats in its variety shows to increase the content's
level of engagement with users, creating an even more immersive
online-offline entertainment experience," said iQIYI Senior Vice
President Chen Wei at the
Conference.
For drama series, iQIYI has taken the lead in the industry
by attaching greater importance to creators, giving them the
support and freedom they require to produce world-class
content. As a result, the Company has been able
to produce multi-season long-running drama series and
short-running drama series adapted from engaging and
intriguing stories. Thanks to its emphasis on content,
iQIYI has built a premium and cohesive brand that
facilitates deep interactions between subscribers and the Company's
platform.
As for short-running dramas, iQIYI's "Light On
Theater", a content library comprised of suspense and crime
series, was a huge hit last year. "Light On" includes popular
shows such as Kidnapping Game, The Bad Kids and
Sisyphus, delivering value to the platform, producers,
and advertisers. Following the success of the "Light On
Theater", iQIYI plans to build
additional theater brands and invest more in "Light On" as
well as the romantic "Sweet On" and comedic "Laughter On"
theaters.
For films, since early 2020, iQIYI launched its own cloud
cinema, which entails three screening models -- cinematic
films released through the PVOD (Premium Video on Demand) model;
high-quality online film releases; and iQIYI
original films. The success that iQIYI has achieved so far
with the PVOD model has proved that filmmakers and audiences need a
bridge to directly connect creativity with market demand.
Cloud Cinema strives to create a fair and transparent
distribution mechanism and a multi-dimensional business model for
film works and filmmakers. Thus the Company have decided to
increase the shared revenue ratio of PVOD films from the
original 35% to the current 42%, and continue to support and
encourage films to premiere online, in the hope that more
high-quality films can reach their target users directly and more
filmmakers can realize their dreams with the support of iQIYI.
iQIYI sees the commercial production of film and television
content as the key lever that will push the industry
forward. In light of this, iQIYI will continue to innovate
its content, building a specialized commercial system for film
and TV and promoting the large-scale and
high-quality content production. At the same time, iQIYI will
work together with its partners to explore the possibilities of
developing a next-generation entertainment platform
that seamlessly integrates content with cutting-edge
technologies.
Achieving harmony across technical standards is an important
part of reshaping industrial rules. For this purpose, iQIYI has
built a unified technical standard system that pioneers the
use of a series of standardization means in China, such as IMF encapsulation. Based
on this, the Company expects to realize closer
cooperation with upstream production partners and drive the
standardization process more efficiently.
At the Conference, iQIYI launched the "Project Leap", an
ambitious plan to join hands with 27 partners spanning
the equipment, post-production, special effects, and insurance
(production safety) fields. The aim of the program is to promote
the efficient implementation of technical standards and ensure the
quality of content filming and post-production, ultimately ensuring
a high-quality audio-visual experience for users.
"The standardization of equipment, post-production, and special
effects is the cornerstone of the industrialization of the film and
television industry. iQIYI hopes to work with its partners to
refine industrial standards and make an important step towards
industrialization," said Liu Yuning, Vice President of iQIYI
and General Manager of Production Administration Center.
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SOURCE iQIYI, Inc.