BEIJING, June 9, 2017 /PRNewswire/ -- China's leading Internet and mobile video service provider iQIYI announced at a major industry conference today that its online movie business would be fully connected with iQIYI's open platform, which would enable movie producers to benefit from iQIYI's core competence in data analytics, artificial intelligence and marketing resources.
The plan is unveiled during the iQIYI Technology & Entertainment World 2017 - Online Movie Summit on June 9 in Beijing. The summit gathered nearly 1,000 industry leaders and professionals engaged in online movies. Giving keynotes and joining discussions include Mr. Yang Xianghua, senior vice-president of iQIYI, Mr. Wang Zhonglei, president of Huayi Brothers Media Group, Mr. Zheng Zhihao, CEO of Maoyan Movie, Mr. Yin Xingliang, CEO of New Studios Media and Ms. Wu Manfang, Dean of Management Department of Beijing Film Academy.
"In the past, what we are doing as an online movie platform is mainly to guide content producers in procedures and policies. Yet we will redefine our services in 2017," said Mr. Yang.
"iQIYI will provide an open platform to connect content creators with viewers in a more intelligent manner and help them in content creation, operation as well as monetization. By doing so, we can effectively lower the risks for content creators and share a vision with all of our partners."
According to the plan, iQIYI will make available its online movie viewers' profiles, behaviors and marketing conversion data on top of the box office revenue-sharing data it releases regularly. The in-depth data services provided by the leading video platform boasting the largest number of subscribers in China are expected to give content creators a better understanding on the latest market dynamics and trends and facilitate them to adjust their marketing strategies.
In addition, producers can also create their official accounts on iQIYI and maximize the value of their contents and brands by providing exclusive shows and live interaction among subscribers.
iQIYI is also set to diversify the cooperation models by co-developing popular literary IPs with partners. iQIYI's portfolio of major entertainment businesses including the news portal, social networking, e-commerce and live streaming services will also be made available to producers for movies' publicity and distribution.
China's current online movie market is embracing an explosive growth. As many as 1,900 movies are expected to be available on iQIYI in 2017. iQIYI estimates that the number of online movies with a share of revenue over RMB 1 million will almost double in 2017 compared to 2016, and those with a share of revenue over RMB 10 and 20 million will also increase significantly. With the participation of professional content production companies and traditional film studios, more and more theatre-level works are emerging on the online movie market.
Mr. Wang Zhonglei of Huayi Brothers said in his keynote speech that the Internet has provided new distribution channels for movies, and all the filmmakers and producers should not miss the huge opportunities created in this cyber world. Yet whether online or offline, engaging contents were always the key to attract viewers, he added.
On the Summit, iQIYI announced the cooperation with China's leading movie information platform Maoyan Movie. iQIYI's movie schedule and box office data will be incorporated into Maoyan's data system and the two parties will jointly set up a dedicated online movie database.
Earlier this year, iQIYI has joined hands with Tencent Pictures, New Studios Media, 20th Century Fox and other major partners to carry out the New Movie project, supporting 10 young film directors and create 10 premium online movies by developing 10 potential comics IPs. Besides, iQIYI also launched a plan to support talented young directors on iQIYI platform in partnership with Dadi Digital Cinema, CCTV-6 Movie Channel and Zhengfu Pictures.
As the creator of the concept of "online movie" and a leader in this business in China, iQIYI is steering each transformation in the nation's online movie market. In 2017, iQIYI will continue to provide holistic AI-enabled services by means of resources on its open platform and help make every content creator's movie dream come true.
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