Annual industry summit showcases the innovative technologies that are upgrading China's entertainment ecosystem
BEIJING, May 17, 2018 /PRNewswire/ -- iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced the opening of its 2018 iQIYI World Conference, a two-day annual summit devoted to the future of the iQIYI entertainment ecosystem.
Under the theme of "winning together through innovation", this year's conference includes 14 forums on topics such as Internet Dramas, Variety Shows and Video AI. Together, the forums present a panoramic view of the future development path of China's entertainment industry and technology's transformational role. Dr. Yu Gong, founder and CEO of iQIYI; Xiaohui Wang, iQIYI's Chief Content Officer; and well-known film director Jianxin Huang delivered keynote speeches at the event.
Over the last three years, the annual conference has reflected the development and opportunities in Chinese's entertainment industry and has become an important opportunity for iQIYI to discuss and share industry trends and innovations.
Listed on NASDAQ in March, iQIYI has produced a huge amount of creative and high-quality content, including internet dramas, internet variety shows and internet movies. The company has also brought together the full IP industry chain and applied AI technology to power every aspect of its business.
"After eight years of user and content accumulation, iQIYI has successfully built an entertainment ecosystem by expanding into eight fields including film, drama, variety shows, animation, literature, games, e-commerce, and live broadcasting, connecting all the links of the entertainment industry chain with our popular IP," said iQIYI founder and CEO Yu Gong.
"Through resource sharing and an open-platform attitude, we encourage partnerships that promote the sustainable and healthy development of our industry."
iQIYI establishes full ecosystem with IP industry chain
In iQIYI's comprehensive ecosystem, its eight integrated business lines complement each other. iQIYI has continuously incubated rich video content from the "upstream" IP industry chain, such as novels, comics, and light novels, and maximized the commercial value of IP through the "downstream" of gaming, goods, and services. iQIYI has also developed nine major IP monetization methods including advertising, paid membership, publishing, distribution, and derivative business licensing, in order to promote the maximization of IP value.
iQIYI's partner cooperation
The expansion of its comprehensive entertainment ecosystem leverages iQIYI's advanced technology, huge user base and deep content library. According to data from third-party agency iResearch released in April 2018, the iQIYI app has covered over 600 million devices, enjoys total monthly usage of 6.388 billion hours, and is used more than 21.6 billion times per month, leading the online video market in China.
As an industry leader, iQIYI is also committed to empowering partners. iQIYI's content generation team, invested companies and strategic partners in various industries enjoy technology, experience, funds and resources shared by the iQIYI platform, as well as close win-win partnerships with iQIYI in talent training, entrepreneurial support, content production, and monetization.
Building on its leading IP library, iQIYI cooperates with major partners for content generation. For example, 37 internet films titles and 28 internet dramas are slated to begin production soon in the third phase of iQIYI's Yunteng Plan, an online literature-IP program launched in 2017. As a part of the company's Cangqiong Plan, which focuses on generating film and gaming products from animation IP, eight internet films have officially started production. Dolphin Plan, which focuses on generating premium content, will launch its first five major titles in the second half of 2018.
iQIYI has also worked with major industry players, such as Baidu, JD.com and Dadi Cinema to explore cooperation in industries including technology, e-commerce and offline movie theater chains.
iQIYI's technology innovation
Technological innovation has become an essential component in building a comprehensive entertainment ecosystem. In 2018, iQIYi has been focusing on applying AI technology to transform users' viewing experience by providing personalized content with intelligent recommendation.
iQIYI has taken the lead in implementing AI technology and has continuously improved video creation, production, tagging, distribution, playback, monetization, customer service, and other areas in order to further empower its content ecosystem and to provide users with a better viewing experience and advertisers with greater ROI. iQIYI has leveraged AI algorithms in areas such as script creation, casting, traffic forecasting, auditing, coding, editing, operation, search, recommendation, announcements, and hotspot prediction to maximize IP value.
About iQIYI, Inc.
iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company") 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 etc. For more information on iQIYI, please visit http://ir.iqiyi.com.
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