iQIYI's revenue streams continue to diversify as hit dance show's IP attracts attention of leading consumer companies
BEIJING, June 13, 2018 /PRNewswire/ -- iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, announced that its street dance-themed competition show "Hot-Blood Dance Crew" has broken advertising revenue records across the online entertainment industry.
The show has been one of this year's most followed and discussed Chinese programs, attracting more than 1.8 billion views as the final episode was shown on iQIYI's platform last weekend, with topics relating to the show on Chinese microblogging site Sina Weibo receiving over 20 billion views.
iQIYI's innovative business model strives to maximize revenue streams from all video content hosted on its platform and "Hot-Blood Dance Crew" is no exception. Based on the roaring success of last year's iQIYI-produced "The Rap of China", "Hot-Blood Dance Crew" proved highly attractive to brand sponsors with 11 major brands keen to gain exposure through partnering with the show.
Sponsorships from top brands including Vivo, Pepsi, Head and Shoulders, Snow Beer, Stride Sugar Free Gum, Dongfeng Nissan, JD.com, Weibo Stories, QQ Dazzle Dance, Baidu's Umoney and QQ Music resulted in net advertising revenue of 650 million RMB, setting new industry records for total sponsorship received, total number of sponsors and fastest selling advertisement spots on an online variety show in China.
Aside from the sheer scale of the show's promotional revenue, of particular note is the engaging manner in which adverts are integrated into the content itself. Over the years, iQIYI has emphasized the principle that "Advertising is content, and content is advertising." This forward-thinking model sees adverts not as an annoying interruption to viewers' entertainment, but as an integral part of the content, with the ability to add real entertainment value. In "Hot-Blood Dance Crew" this is most clearly seen in the show's "creative dance commercials", in which logos and products of partner brands are seamlessly combined into short videos of contestants' dance routines, subverting the conceptions of traditional advertising.
(Click here to watch the creative dance commercial featuring dancer Su Lianya)
In addition, the hit show has also boosted the commercial value of its contestants, who were largely unknown before the show's airing. So far, 17 street dancers have forged commercial relationships with partner brands thanks to the popularity gained from appearing on the program. Star contestant Su Lianya, known for her 'vogue' style of dance, has signed advertising deals with five brands.
The monetization of iQIYI's content is further maximized by the company's focus on utilizing the intellectual property and trademarks which underpin its original content. The success of "Hot Blood Dance Crew" has enabled iQIYI to reach trademark license agreements with 15 brands including Maybelline, Chow Tai Fook, New Era, Asics Tiger and Casio. Through these agreements, the 'HBDC' brand can now be seen across industries as varied as mobile games, fashion and cosmetics, which both diversifies revenue streams and increases the show's brand awareness.
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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