iQIYI Reinforces Strategic Focus on High-quality Growth at 2023 iQIYI World Conference, Deepening Partnerships for Industry-wide Progress

The Company releases over 270 new titles covering a wide range of genres

BEIJING, May 11, 2023 /PRNewswire/ -- On May 10, 2023, iQIYI ("the Company"), an innovative market-leading online entertainment service in China, shared its strategy of driving continued high-quality growth at the 2023 iQIYI World Conference ("the Conference") in Beijing. As part of the strategy, the Company also announced the upcoming release of over 270 new titles, articulating how quality content unlocks value for not only the Company but also the industry at large.

New Content Releases Showcasing the Success of "High-quality Growth" Strategy

"Content is the key value of long-form video platforms, and high-quality industry partnerships, strong teams, and an industrialized management system are the fundamental building blocks for iQIYI's robust premium content creation capabilities," said GONG Yu, Founder and CEO of iQIYI. GONG then explained that content, the above fundamental building blocks, and monetization capabilities (including membership services and advertising services) are the focus of the Company's future development efforts.

Deepening its long-standing focus on premium content development, iQIYI announced at the Conference the upcoming release of over 270 films, drama series, variety shows, and contents in other entertainment genres, showcasing the Company's market-leading ability to create innovative contents that cater to users' evolving interests.

For drama series, iQIYI announced the launch of its "Ning Plan," which features epic-themed, history-inspired contents such as Han Dynasty Epic, The Epic of Tang Dynasty, and Liang Jing Shi Wu Ri. In addition, the Company also introduced a sharpened focus on themes, which will lead to the production of quality contents that most strongly resonate with users. A rich slate of new drama series—including Railway Policeman, Story of Kunning Palace, and Golden Trio—are due to be released under various themes.

From the beginning of 2022 to now, iQIYI already launched six titles—A Lifelong Journey, Wild Bloom, Love Between Fairy and Devil, New Life Begins, The Knockout, and Chasing the Undercurrent—with a content popularity index of 10,000, qualifying the titles as "national hits" by iQIYI's standard.

WANG Xiaohui, Chief Content Officer of iQIYI and President of Professional Content Business Group (PCG), said: "Honouring tradition while seeking breakthroughs in building resonance and improving cinematographic quality accounts for the contents' success. To continue to realize high-quality growth, we are committed to creating contents that inspire as well as entertain."

Upcoming variety shows speak to iQIYI's commitment to content innovation. From The Big Band Season 3, Argonauts to 2023 Xun Yin Huan You Ji and others, the variety shows make for unique viewing experience by leveraging popular iQIYI IPs. In addition, a product of increased investment and resources from the Company, the upcoming variety shows feature a variety of themes—ranging from stage performance and competition, outdoor documentary, romance, and others—and cater to different user interests.

In the films category, iQIYI is due to premier Raid on the Lethal Zone, Wolf Hiding, Master Zhong, and other high-quality films. As the films will be premiered on iQIYI under different models including the iQIYI Cloud Cinema, their rollouts speak to iQIYI's commitment to driving quality development in the entertainment industry for all parties participating.

Deepening Partnerships to Enable Industry-wide Growth

iQIYI believes that true high-quality growth brings industry-wide progress that benefits the Company, users, and industry partners alike. Therefore, iQIYI complements its robust content line-up with continued improvement in membership services. With different membership categories that cater to differentiated user needs, iQIYI members can access the platform and enjoy high-quality member services and privileges across seven end devices (i.e., computers, tablets, TV, cellphones, VR, smart homes, and cars).

Furthermore, iQIYI's comprehensive membership services in combination with its high-quality content together enable high-quality growth for the Company's industry partners.

WU Gang, iQIYI Senior Vice President, explained: "Delivering strong user resonance, iQIYI's impactful IPs serve as a vehicle for brands to drive varied, effective, and scaled connections with their target audiences."

Driving Growth Overseas

iQIYI also held a forum at the Conference to showcase the development in its overseas business and share with its partners opportunities for collaboration.

YANG Xianghua, President of Movie & Overseas Business Group of iQIYI, said: " iQIYI International App went through the initial exploration phase in the oversea markets and is now profit-driven. It has achieved breakthrough growth in key markets such as Southeast Asia and North America. This year, we will continue to promote Chinese-language content vigorously, expand the overseas reach of Chinese-language content especially in key emerging markets, and achieve further user growth."

Having distributed domestic contents overseas since 2017, iQIYI has continued to generate high-quality growth overseas with both its rich library of premium Chinese content and tailored original local productions.

To date, iQIYI international services have distributed 7000+ episodes, are accessible globally across 191 countries and regions, and support up to 12 languages in UI, subtitles, and dubbing. In 2023, iQIYI will launch more new titles across genres, continuing to offer global audiences a premium entertainment experience and strengthen the Company's position as the home for beloved Asian content.

Leveraging its premium content and strong monetization ability, iQIYI stands ready to deepen its cooperation with industry partners and, through collaboration, together propel the film and television industry to a new stage of development.

SOURCE iQIYI