BEIJING, May 9, 2019 /PRNewswire/ -- iQIYI, Inc. (NASDAQ:
IQ) ("iQIYI" or the "Company"), an innovative market-leading online
entertainment service in China,
today announced the opening of 2019 iQIYI World Conference (the
"Conference"), a two-day annual summit devoted to the future of the
iQIYI entertainment ecosystem. Since 2015, the annual conference
has reflected the development and opportunities in China's entertainment industry and has become
an important platform for iQIYI and industry peers to discuss and
share industry trends and innovations.
Held under the theme of "Smart Entertainment, Always Fun &
Simple", this year's conference includes 12 forums on topics such
as intelligent video technology, online dramas, and talent
management. Dr. Gong Yu, founder and CEO of iQIYI; Nobel Prize
winner in Literature Mo Yan; and Doreen
Wang, Global Head of BrandZ™, the world's largest and most
definitive brand building platform, delivered keynote speeches at
the conference.
In the past year, iQIYI has focused on strengthening its full IP
industry chain, as well as implementing innovation and
partnership-led strategies, helping cement the company's position
as leader of China's entertainment
industry. Most recently, it was announced that iQIYI ranked
28th place on the BrandZ™ Top 100 Most
Valuable Chinese Brands 2019. This achievement represents a 158%
year on year increase in brand value, earning iQIYI the
BrandZ™ Fastest Growing Chinese Brand Award 2019.
On iQIYI's growth in brand value, Doreen
Wang, Global Head of BrandZ™, noted in her keynote speech,
"iQIYI's brand value not only represents the company's unlimited
potential, but it also symbolizes its ambition and mission as a
representative of the Chinese entertainment industry to help
Chinese culture go global."
iQIYI's IP-focused entertainment ecosystem
In the backdrop of growing integration between upstream and
downstream IP industry chains in China's entertainment industry, iQIYI's
entertainment ecosystem has expanded rapidly due to Chinese
consumers' growing demand for diverse content. Over the past year,
iQIYI's comprehensive ecosystem has grown to be composed of iQIYI's
main platform as well as 21 individual apps that caters to long and
short-form videos, short videos, fans community, sports,
e-commerce, gaming, literature, comics, paid content knowledge,
live streaming, movie ticket booking and virtual reality
content.
iQIYI also continues to maximize the monetization capabilities
and IP value of its comprehensive ecosystem through its nine major
IP monetization methods including advertising, paid subscription,
publishing, content distribution, IP licensing, etc.
"Our extensive product and service range is at the core of our
ecosystem's expansion. Going forward, we will continue to fully
utilize our strong technology and content IP profile to support our
diversified business model and further strengthen our monetization
capabilities," said Dr. Gong Yu.
iQIYI's technological and content innovation set new industry
standards
iQIYI has constantly broken free from standard industry
practices by promoting innovation-driven values in both technology
and content creation. This has led the company to revolutionize TV
show formats through debating talk show Qi Pa Shuo and release original content to
unprecedented acclaim, namely The Story of Yanxi
Palace, The Rap of China, Idol
Producer among others. At this year's conference, iQIYI
showed that it continues to lead the development of China's video industry by presenting two
industry opportunities.
iQIYI has taken the lead in developing a groundbreaking
interaction video guideline which will help content creators and
industry professionals develop high-quality interactive
entertainment experiences more conveniently and efficiently, from
concept development to plot-setting. Through this guideline, iQIYI
aims to standardize interactive video creation and build an
efficient ecosystem for the industry, in order to explore the full
potential of interactive video with industry peers. To date,
iQIYI's interactive video platform has been applied to interactive
video creation and will be gradually rolled out to the broader
creator community within the industry.
iQIYI also proposed that a new movie distribution model is
necessary under the current status of China's film industry, which has been
experiencing uneven development based on box office performance,
viewership numbers and attendance rates. The new distribution model
will entail a revenue-sharing element that involves production
houses, movie theatres and even audiences.
In addition, the company also aims to strengthen its commitment
to producing original content, with an emphasis on a win-win
partnership strategy that promotes collaboration with production
studios and movie theatres. This partnership-focused production
strategy entails a revenue-sharing element which will not only
bring productions to a wider audience, but will also allow
audiences to view the original productions at a smaller cost as the
revenue will be distributed among parties involved in the
partnership. This is representative of the company's commitment to
partnership-based innovations that call on all players within the
industry to promote a sustainable entertainment ecosystem.
"Innovation-induced opportunities are bound to bring forward new
industry trends. We are confident this will be the case with
interactive videos, and we look forward to collaborating with
industry peers to explore the opportunities behind interactive
videos as well as our new movie distribution model," said Dr. Gong
Yu.
iQIYI's cooperation with partners
iQIYI attaches great importance to empowering partners in order
to provide audiences with the best entertainment experience. iQIYI
is committed to promoting win-win partnerships that enable greater
content, format and technological development for all collaborating
partners. This not only strengthens the company's internal IP-based
ecosystem but also serves as a basis for the overall growth of the
entertainment industry.
"As an industry leader, iQIYI aims to be the best when it comes
to content, users and partnership. Having successfully built an
entertainment ecosystem through resource sharing, we aspire to
continue partnering with other leading players in the industry to
jointly explore opportunities in innovation and promote a
partnership-based entertainment ecosystem to support the
sustainable development of the entertainment industry," Dr. Gong Yu
commented in his keynote speech.
At this year's conference, iQIYI highlighted ten partnership
plans that covers the entirety of the company's extensive IP
industry chain. This includes the literature IP-focused Yunteng
Plan, which oversees literature works such as the company's
partnership with leading content production to adapt Nobel Prize
Winner in Literature Mo Yan's novel Big Breasts and Wide
Hips into an online drama. Other partnership plans include
Cangqiong Plan, which focuses on generating film and drama products
from animation IP, Kiwi Talent Agent Plan, a talent hunting,
cultivation and promotion plan that closely engages talent
agencies, and Dolphin Plan, which focuses on generating premium
online dramas.
The company also reaffirmed its commitment to producing
high-quality original content by unveiling over 270 new projects at the conference's iJOY
forum. Upcoming releases include variety shows Youth with
You, I Actor 2, Qi Pa Shuo 6, TV dramas The
Thunder, Love and Destiny, Tientsin Mystic
2, and vertical video drama series Ugh! Life
2 and 3, as well as Arg
Director.
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. For
more information on iQIYI, please
visit http://ir.iqiyi.com
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SOURCE iQIYI, Inc.