BEIJING, Feb. 1, 2020 /PRNewswire/ -- iQIYI, Inc. (NASDAQ:
IQ) ("iQIYI" or the "Company"), an innovative market-leading online
entertainment service in China,
jointly announced with the production and distribution teams
of Enter The Fat Dragon (the "Film") that the
action comedy film has been made available to viewers on iQIYI's
online streaming platform on February
1 through its early-access transactional on-demand mode (the
"Mode"). The Film was originally scheduled for theatrical release
across China on February 14.
Caused by the outbreak of the novel coronavirus in China, film viewing habits and demands of
Chinese consumers have shifted from outings to the cinema to online
streaming at home. In response to this development, iQIYI swiftly
reached an agreement with the Film's production and distribution
teams that satisfies consumers' demands to view new film releases
without leaving their home.
Directed by Kenji Tanigaki,
action director of Monster Hunt 2, and starring
Donnie Yen, Teresa Mao, Niki Chow LaiKei, and Jing Wong, the Film tells the story of a
Hong Kong police officer who is
highly skilled in martial arts despite being very overweight, goes
abroad for an investigation.
"At present, China is actively
fighting the coronavirus and people are encouraged to stay at home
and avoid public gatherings. Taking this into consideration, it is
unfitting to schedule new film releases at cinemas in the short
term," said Jing Wong, producer of Enter The Fat
Dragon, "In order for audiences to access this premium content
as soon as possible, we decided to release the Film on iQIYI,
hoping that it would give everyone a glimmer of sunshine amidst the
haze."
iQIYI's "early-access transactional on-demand" mode was
introduced in effort to balance the interests of users, film
producers and platforms. The Mode allows users to view latest
releases online at a moderate price, while also enabling film
producers to obtain greater revenue by establishing more
distribution channels. The Mode is expected to serve as a healthy
development model for the film sector, under the basis that
platforms can attract more users by providing high-quality content,
users are more willing to pay for high-quality films while film
producers launch more high-quality work with the platforms'
support. Platforms could in turn also obtain more high-quality film
resources.
"The coronavirus outbreak is a test for the whole nation and the
film market. With many users staying at home with a demand for
quality films, we hope that this mode will attract films of our
users taste and help us meet their demands of online streaming,"
said Song Jia, General Manager of
iQIYI Film Center, "This innovative mode is a particular measure
during the coronavirus outbreak, and iQIYI will continue exploring
a win-win mode for the film distribution and actively maintaining
the sustainable and healthy development of China's film industry. We are open and willing
to cooperate on realizing the online releases of high-quality and
popular movies. It took us a very short time to achieve the release
of Enter the Fat Dragon. We have always had conviction
in 'being the most reliable partner of filmmakers and providing the
best movies for the audience.' I hope to provide long-term services
for viewers and partners in the film industry through this model,
and jointly tackle current and future market challenges."
iQIYI has released a selection of VIP films for free viewing,
such as Spirited Away, Tonari no Totoro, Youth,
Adrift, and Legend Of The Demon Cat, to meet the rise of user
demands against the backdrop of theatrical release cancellations
caused by the coronavirus outbreak. The joint initiative of iQIYI
and the Film's production and distribution teams to move
the Enter the Fat Dragon from cinemas offline to
early-access transactional on-demand screening online will further
enrich viewers' choice of new releases during the Spring
Festival.
About iQIYI, Inc.
iQIYI, Inc. 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.
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SOURCE iQIYI, Inc.