BEIJING, April 17, 2018 /CNW/ -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the
"Company"), an innovative market-leading online entertainment
service in China, today announced
that it has joined the Alliance for Open Media (AOMedia) as a
Promoter member.
AOMedia is a non-profit organization formed by the world's
best-known leaders in video industry with the aim to define and
develop media technologies that address the need for an open
standard for video compression and delivery over the web. AOMedia's
Founding Members include Amazon, Apple, Arm, Cisco, Facebook,
Google, IBM, Intel, Microsoft, Mozilla, Netflix, and NVIDIA.
As the first Chinese member of AOMedia, iQIYI will collaborate
with Alliance members to augment and promote cutting-edge, open
source and royalty-free video technologies, including AOMedia Video
Codec 1.0 (AV1) specification.
"iQIYI is leading the Chinese entertainment industry by
committing itself to smart technologies and their application in
content production, innovation in marketing and business model
development," said Yu Gong, the
founder and CEO of iQIYI. "We are delighted to join AOMedia and
look forward to engaging with other innovative companies to help
promote fast ultra high-quality video technology."
As an AOMedia member, iQIYI will contribute its deep industry
expertise in advanced online video content creation and delivery,
while further enhancing its strength in technology innovation as
China's largest internet video
streaming service.
"We're pleased to welcome iQIYI to the Alliance for Open Media,
reflecting the importance of video and entertainment service
providers' engagement to achieve broad industry adoption," said
Gabe Frost, executive director,
AOMedia. "We look forward to iQIYI's contributions to our
initiatives and are excited at the prospect of introducing AV1 to
hundreds of millions of iQIYI's customers in China."
About iQIYI
iQIYI, Inc. (NASDAQ: IQ) is an innovative market-leading online
entertainment service in China.
Its corporate DNA combines creative talent with technology,
fostering an environment for continuous innovation and the
production of blockbuster content. iQIYI's platform features highly
popular original content, as well as a comprehensive library of
other professionally produced content, partner-generated content
and user-generated content. The company distinguishes itself in the
online entertainment industry by its leading technology platform
powered by advanced AI, big data analytics and other core
proprietary technologies. iQIYI attracts a massive user base with
tremendous user engagement, and has developed a diversified
monetization model including membership services, online
advertising services, content distribution, live broadcasting,
online games, IP licensing, online literature and e-commerce, etc.
More information on iQIYI can be found at
http://www.iqiyi.com/.
About the Alliance for Open Media
Launched in 2015, the Alliance for Open Media (AOMedia) was
formed to define and develop media technologies to address
marketplace demand for an open standard for video compression and
delivery over the web. AOMedia is a Joint Development Foundation
Projects, LLC series. The Joint Development Foundation is an
independent nonprofit organization that provides the corporate and
legal infrastructure to enable groups to establish and operate
standards and source code development collaborations. Visit
www.aomedia.org or follow AOMedia on Twitter at @a4omedia,
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SOURCE iQIYI, Inc.