iQIYI Successfully Launches Game Adaptation of DreamWorks Animated Film

BEIJING, March 18, 2019 /PRNewswire/ -- Skymoons Inc. ("Skymoons" or the "Company"), a wholly owned subsidiary of iQIYI, Inc. (NASDAQ:IQ), recently launched its smartphone game The Croods - Official 3D Turn-Based Mobile Game ("the game") in the China market to great acclaim. Developed and released by iQIYI, the game topped the free games chart of Apple's Chinese App Store on the day of its release and at one stage reached 500,000 in daily downloads for its Android version. The title is also one of China's 2019 top grossing games and leads the way as one of the highest grossing games based on an IP that originated in the West. Made in collaboration with Universal Games and Digital Platforms, the game is inspired by the DreamWorks Animation's 2013 highly popular animated feature film, The Croods. This collaboration marks iQIYI's first game adaption of a Hollywood animated movie. The game is also planned for future release in Southeast Asia and North America.

Following the launch of the game in February, the daily search volume for The Croods on Baidu, China's most-used search engine, increased by 13.5 times within a week. The game was promoted across a variety of iQIYI online channels and on Universal Pictures International, China and DreamWorks Animation social media locally, reflecting the success of the collaboration.

"iQIYI considers online gaming an integral part of our ecosystem and diversified monetization model," said He Yunpeng, SVP of iQIYI. "Universal Pictures and DreamWorks Animation have a proven track record of producing animated classics, and we are proud of partnering with the team to bring this beloved Hollywood film adaptation to Chinese gamers."

"The successful launch of this new mobile game based on The Croods is an important win for us and has greatly exceeded our expectations. iQIYI has a strong understanding of the Chinese market, which has paved the way for the game to perform exceptionally well," said Chris Heatherly, EVP of Games and Digital Platforms, Universal Brand Development. "There are huge opportunities in the Chinese mobile space, and we look forward to introducing more compelling IP-based games to the market."

The monetary potential of iQIYI's online gaming business was seen recently in the company's 2018 financial results, with other revenues including gaming representing US$418.2 million, a 105% increase compared with 2017. Since 2014, iQIYI has strengthened its online gaming arm by adopting an IP-driven production strategy that focuses on the inter-adaptation of movie, television and gaming. The company has already released more than 5,000 online games through IP works based on a wide array of movies, dramas, literature, variety shows, animation and comics. Furthermore, iQIYI will continue fully leveraging the value in IP licensing through global partnerships and developing its online gaming business into an integrated online gaming platform, which comprises all aspects from game R&D to publishing and operation. 

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. For more information on iQIYI, please visit http://ir.iqiyi.com.

About Universal Games and Digital Platforms 
Universal's Games and Digital Platforms group leverages the vast portfolio of IP and characters from NBCUniversal. The Games and Digital Platforms group is a business unit of Universal Brand Development, which is chartered with globally expanding the company's intellectual properties, franchises, characters and stories through innovative physical and digital products, content, and consumer experiences. The company's extensive portfolio includes properties created by Universal Pictures, Illumination Entertainment, DreamWorks Animation, and NBCUniversal cable and television. Universal Brand Development (www.universalbranddevelopment.com) is part of NBCUniversal, a subsidiary of Comcast Corporation.

SOURCE iQIYI, Inc.