BEIJING, May 14, 2021 /PRNewswire/ -- iQIYI, Inc.
(NASDAQ:IQ) ("iQIYI" or 'the Company'), an innovative
market-leading online entertainment service in China, held its 2021 iQIYI World Conference
('the Conference'), themed "We are Together Witnessing
the Brand New Future," in Shanghai on May
13 and 14. The Conference featured 17 forums that were
attended by industry professionals, scholars and iQIYI partners
from around the world. Attendees at the event exchanged their
views on the most important trends in the industry,
covering hot topics such as content, technology, the
membership economy, the IP ecosystem, and new modes of
consumption.
Reimagining the video model, and prioritizing users by paying
tribute to content creators
Videos are generally classified by length or creator attributes,
Gong Yu, Founder and CEO of iQIYI, brought attention to new
thoughts on videos' categorization at the opening ceremony of the
World Conference. He said that different types of video consumption
require different "mental workloads" from viewers. For example,
viewers may watch 'delicious content' to kill time,
entertaining content to experience deep emotional connections
or content to meet constantly robust the core
competitiveness in interest-based and entertainment content.
As the consumption of entertaining and interest-based content is
driven by customers' attention, consumers' expectation for high
quality creative outcomes from creators has increased. Gong Yu
noted that iQIYI always understands and respects artists. Only with
artists, can the company create high-quality work.
In his speech titled "It's about you", renowned
writer, and recipient of
Mao Dun Literature Prize and The Ordre
des Arts et des Lettres (Order of Arts and
Letters) Liu Zhenyun emphasized the importance of
technology innovation for content creators. As the writer noted,
the core of art creation is innovation, without which there will be
no future. Innovation is crucial to creators.
Promoting industrialization through Intelligent Production
and Creation of New Content
As a key step in the industrialization process, intelligent
production has become a new driver in the improvement of
content creating quality. Through the
IP valuation system, intelligent casting system and
co-reviewer platform, iQIYI can standardize the whole process of
film production - from project approval to product launch - via
intelligent R&D, production, labelling,
and distribution.
At this year's opening ceremony, Gong noted that users' pursuit
of the high quality and tailored content has become the new focus
for the film and television industry. The industry has entered a
stage of refinement following a period of extensive growth. As
delivering his keynote speech at the World Conference, Gong Yu
noted: "The industrialization of film and television has always
been the central theme, but it is still an innovative term that
needs to be reintroduced at this time because of the development of
technology such as 5G, AI and cloud computing. Technological
innovation will support the reformation of industry rules."
In addition to giving creators greater creative freedom,
intelligent production also generates the "new content" of this
era. In early 2021, at the "iQIYI Shout out for Love Gala 2021", a multi-screen interactive
live-streaming super night, 90% of users experienced the
multi-screen interactive mode, with each user switching among four
sub-screens 29 times on average, fully demonstrating the strong
demand for user-content interaction and user-user interaction.
In March 2021, iQIYI held its
extended reality (XR) concert featuring THE9, a Chinese girl group
formed by the top nine members of season two of iQIYI's hit idol
talent show Youth with You. The concert
on cinematic class LED stage with photorealistic
virtual production, titled "X-City", was an audio-visual feast with
world-class stage art design, visual effects, and viewing formats.
The stage performance deployed XR technology throughout the whole
show, allowing users to use features such as virtual seating,
virtual avatars, invitations for attendees to get "on stage" and
virtual glowsticks, which all contributed to a highly interactive
and immersive experience which enhanced the bond between the idols
and their fans.
Liu Wenfeng, Chief Technology Officer and President of
Infrastructure and Intelligent Content Distribution Business Group
(IIG) of iQIYI said at the Conference that iQIYI is building a
new bridge of communication between creators and users through
technological innovation and content innovation.
On the creator side, based on its technological
capabilities in 5G, AI and cloud computing, the company has
launched the Production Business Intelligence System (PBIS),
Intelligent Integrated Production System (IIPS), and
Intelligent Production Tool System (IPTS). These smart tools cover
the whole process of film production - from project review, project
approval, project production to process management and
shooting, helping ensure the quality control of content production
and efficiency management.
On the audience side, iQIYI also announced to roll out a
series of cloud services, including cloud performances and cloud
theaters, aiming to provide users with enhanced experiences through
a variety of technical means.
New initiatives in strengthening entertainment
ecosystem
At the Conference, iQIYI also unveiled the "iQIYI Dongyang
Creative Cultural and Entertainment Complex", an initiative to
further promote the ecological construction of its entertainment
ecosystem that is currently under planning and construction.
The Complex will include facilities including a production
center, film and television institute, cast and production staff
service center, accommodations, theaters, a convention and
exhibition center, VR immersion center, IP theme center,
shopping mall and so on.
Calling for industry regulations to reconstruct a healthy
ecosystem
In addition to providing strong technology support, building a
healthy and orderly environment is widely recognized by the
industry as an external guarantee for the sustainable development
of the film and television industry.
At the opening ceremony, Gong Yu urged all his peers to love the
industry and pay tribute to artists, thus creating a positive
and robust industry environment. Going forward, iQIYI will strive
to create win-win opportunities through continuous optimization and
innovative concepts, technologies, and products, partnering with
the best and brightest in the industry.
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SOURCE iQIYI