BEIJING, Aug. 15, 2018 /PRNewswire/ -- iQIYI Inc. (NASDAQ:
IQ) ("iQIYI" or the "Company"), an innovative market-leading online
entertainment service in China,
has announced the latest shared revenue figures for online movies
on the iQIYI platform. The figures show that as of July 31st, each of the 14 online movies on the
iQIYI platform has achieved a total shared revenue of over
10 million RMB in 2018, representing
an increase of 133% compared with the same period last year.
iQIYI's revenue sharing model for online movies incentivizes
producers to make content of the highest quality. Just as with
movies distributed in the traditional way through cinemas, the
effective number of views received by a movie on the online
platform directly affects the total amount of shared revenue it
receives. iQIYI co-operates with producers in content, marketing
and advertising. The proportion of shared revenue received by
production companies is determined by number of factors, including
a measure of the content's quality, which is judged by a specialist
panel within iQIYI.
Data collected from online movies allows production companies to
target their content towards different social groups, aiming movies
at different ages and genders. "Seventeen and a Half Years Old", a
teen movie which broke into the top three highest grossing movies
on the iQIYI platform this month, had a male-female viewer ratio of
6:4, a rarity in a genre generally favored by female viewers. The
movie tells the story of a male high school student who sets out to
film a campus horror movie, and was produced by iQIYI in
partnership with UniTalent Pictures and CFDG.
The online film industry also provides an ideal venue for mid to
low budget films, allowing them to reach new audiences and generate
exceptionally high levels of return on investment. "Chen Xiang at Six Thirty: Stop Your Nonsense", a
movie released last year on the iQIYI platform, had a very limited
production budget, but earned over 13 million in total shared
revenue, becoming the fifth highest grossing online movie on the
iQIYI platform in 2017. The film's sequel, "Chen Xiang at Six Thirty: Unbeatable Iron Head,"
which was released this year, earned its production costs back
within just 8 hours of release on the iQIYI platform, taking over
25 million RMB in shared revenue in
the first month and achieving a 833% return on investment.
"iQIYI was one of the first companies to see the potential in
China's online movie industry, and
our continued leading position in online film is a reflection of
this," said Yang Xianghua, Senior Vice President at iQIYI. "The
online movie industry is still in its infancy, but as viewing
preferences change in the digital age, it is clear that
developments in this area are sure to have significant
ramifications for the film industry as a whole."
About iQIYI, Inc.
iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company") 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. For more information on iQIYI, please visit
http://ir.iQIYI.com.
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SOURCE iQIYI, Inc.