BEIJING, Oct. 23, 2019 /PRNewswire/ -- iQIYI, Inc.
(NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative
market-leading online entertainment service in China, recently announced a partnership with
KFC, the global fast food restaurant, in which the two
companies will collaborate to launch the "iQIYI VIP Products
Day". Under the collaboration, over 100 million iQIYI VIP members
will be able to enjoy a wide selection of coffee, afternoon tea
products for a discounted price at 6,000 KFC stores around 1,300
cities across China.
Notably, iQIYI VIP members will be able to enjoy KFC "K-coffee"
drinks for the price of 5 RMB, a
fraction of original prices that range from 14 RMB to 17 RMB,
as well as enjoy KFC's afternoon tea selection at half price. As
users under the age of 24 represent the largest demographic of
iQIYI VIP members by number, this collaboration fulfills the high
demand iQIYI's young users have for leisurely refreshments such as
coffees and snacks while also serving as an innovative marketing
opportunity for KFC and its products. Through the collaboration
with iQIYI, KFC is able to reach a wide-ranging cohort of young
consumers with high purchasing power and achieve cross-platform
consumption transformation amongst them.
"Along with our IP-based entertainment ecosystem, we are
committed to expanding the scope of our membership services by
collaborating in such mutually-beneficial partnerships," said
Yang Xianghua, President of Membership and Overseas Business
Group of iQIYI.
iQIYI and KFC previously collaborated
in 2017 to release set meals that were based on the iQIYI IP-based
drama series Legend of Zu Mountain 2. The 2017
collaboration was met with great acclaim by both iQIYI users and
KFC WOW members, and successfully set off a trend around
IP-based product marketing. iQIYI cross-platform partnerships
with companies include online retailer JD.com, health and beauty
care chain store Watsons, travel services provider Ctrip and music
streaming service KuGou. More than 50,000 items are currently
available at the iQIYI Mall for iQIYI users to
purchase. Furthermore, as part of an upcoming partnership with
China's leading electrical
appliances chain store GOME, iQIYI VIP members will be able to
enjoy membership discounts at GOME's online and 2,400
offline stores from October 25th to
28th.
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.