BEIJING, July 29, 2020 /PRNewswire/ -- Yang Xianghua,
President of Membership and Oversea Business Group of iQIYI, Inc.
(NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative
market-leading online entertainment service in China, recently attended APOS 2020 Virtual
Series, Asia's leading media event
hosted by Media Partners Asia (MPA), where he shared iQIYI's
overseas business development and strategic plans.
Speaking at the event, Yang said that iQIYI had designated
its Beijing headquarters and
Singapore overseas headquarters as
two middle platforms, under which it has assembled teams covering
content, R&D, product, membership, advertising and marketing.
Meanwhile, iQIYI is in the process of setting up local offices in
Thailand, Malaysia, the
Philippines, and Indonesia,
and has made plans to establish localized teams in South Korea, Japan, and the Middle East. The middle platforms in
Beijing and Singapore will provide strategic support to
those local teams, which will acquire and produce more
content tailored to the local needs, driving the Company's overseas
expansion.
The Company's two major considerations whilst expanding abroad
are the available opportunity set and accessibility, said Yang,
adding that the Company had prioritized its initial overseas push
in regions with cultural and geographical similarities proximities
to China. iQIYI has so far filled
roles of general managers in Malaysia, Singapore, the
Philippines, Thailand and
Indonesia, ramping up its overseas
market operations and expansion.
Partnering with local media brands and operators and leveraging
their networks and infrastructure is one of iQIYI's avenues for
user acquisition. In the era of 5G and smart technologies,
partnerships with smart TV and mobile phone manufacturers
are a priority, said Yang. So far, iQIYI has worked with
Malaysia's leading media brand
Astro, and smart TV and smartphone makers TCL, Samsung, Huawei,
Xiaomi, OPPO, vivo and others.
iQIYI officially launched its overseas expansion in June 2019 when it released the international
version of the iQIYI App. The Company's overseas business teams
have so far made solid progress in building local teams, developing
overseas content and diversifying channel partnerships.
APOS Summit is the premier global platform and event for the
Asia Pacific media, telecoms,
sports and entertainment industry. In its 11th year,
APOS is shifting online in 2020 with two virtual editions
on July 21-23 and September 1-3, 2020 because of the
Covid-19 pandemic.
During the event, Yang participated in an
online conversation with Vivek
Couto, Executive Director & Co-Founder of MPA, the
curator of the APOS event.
Representatives from leading media and telecom companies
including iQIYI, Viacom, YouTube, Facebook, Singapore
Telecommunications Limited (Singtel) and AIS attended the summit
where they discussed emerging opportunities and challenges in
the industry.
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.