iQIYI’s new “Project Kangaroo” brand alleviation program to help growth of new consumers brands
BEIJING, Oct. 23, 2020 /PRNewswire/ — iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or ‘the Company’), an innovative market-leading online entertainment service in China, announced the upcoming releases of more than 200 shows and shared the brand marketing solutions at its annual iJOY Conference (the "Conference") held in Shanghai on October 22. The Conference was attended by Gong Yu, Founder and CEO of iQIYI; Vivian Wang, President of New Consumer Business Group (NCG) and Chief Marking Officer of iQIYI; Wang Xiaohui, President of Professional Content Business Group (PCG) and Chief Content Officer of iQIYI; and well-known industry professionals including Ma Dong, Founder and CEO of MeWe Media; Du Hua, CEO of Yuehua Entertainment; He Xiaoxi, Founder and CEO of Xiao Guo Culture Co. Ltd.; director Wei Zheng, and writer Ma Boyong.
In addition to announcing its latest content and marketing strategy, the Company also shared at the Conference key marketing and content trends that will shape the future of online entertainment landscape in the years ahead.
"The era of segmented audience groups have arrived. The combination of innovation and quality is advancing the evolvement of production efficiency and content distribution. It’s also changing the business model of streaming platforms. The D2C (Direct-to-Consumer) model has become a clear path to which the future development of long-form videos will follow," said Gong Yu at the Conference.
Combination of content segmentation and technology innovation drives D2C model to become future growth path of film and television industry
Due to the complementary nature of audience segmentation and technology innovation, Gong Yu believes that D2C is the clear path of development for streaming platforms going forward. Under the D2C model, streaming platforms function as an open platform that carries a diversified selection of content. Gong Yu noted that as long as a piece of content is well-received by platform users, it will bound to receive market recognition and financial return. Along with its partners, iQIYI is committed to exploring the opportunities and potential of the D2C market.
"Online film and television content users are becoming increasingly diversified. The industry is now gearing towards genre-specific content. Users want to find content that they resonate with emotionally amidst a diversified content selection. The Industry should produce content based on the specific preferences of different audience groups," Gong Yu said during his keynote.
With quality content at its core, iQIYI’s new "Project Kangaroo" brand alleviation program seeks to help growth of new consumers brands
At the Conference, Vivian Wang announced that iQIYI has launched "Project Kangaroo", a brand alleviation program that aims to provide brands with resources in content IP, celebrity access and traffic to help it adapt to new trends and grow. By being one of the first brands to participate in the program, food brands like CHOCDAY and ZIHAIGUO have become some of the fastest consumer brands due to its collaboration with The Rap of China 2020 and Let’s Party and celebrity sponsorships. iQIYI also plans to launch the project in overseas markets by assisting Chinese brands that wish to expand outside of China.
"Brand value is critical to the success of companies. Brand exposure through quality content is key to ensuring the sustainable development of a brand. Only quality content that expresses the brand accurately can capture the loyalty of consumers," said Vivian Wang at the Conference.
iQIYI’s upcoming content strategy for 2020
More than 200 upcoming releases announced, of which nearly 150 will be priority shows for the Company in the coming year, cover a wide range of genres including drama, variety show, film, animation, sports and children-friendly, making iQIYI an industry leader in terms of both the number of genres and vertical content type for its offerings.
"The age of refined and preference-based consumption is approaching where a high premium is placed on quality content," Wang Xiaohui said in a keynote speech at the Conference. "People are becoming more cautious about the uncertainty in the post-pandemic era. What iQIYI needs to focus on the present and produce more positive content to uplift the life of our users."
In the coming year, iQIYI will continue to invest heavily in content creation and boost its presence in many more vertical content types as part of its efforts to cater to the diverse needs of users. Regarding its content strategy, iQIYI will target six trending vertical contents in its variety show segment, launch three genre-dedicated content libraries known as ‘theatres’, and increase its offering in animation and top global sports events coverage.
iQIYI will launch variety shows such as YOUTH WITH YOU, The Rap of China, Qi Pa Shuo, Fourtry, Housework Man and The Adventures of Detective, covering young people’s spiritual life, lifestyle and entertainment scenes.
Going forward, iQIYI will promote three major ‘theatre’ offerings, including the successful "Mist Theatre", which features suspense productions such as Who is murderer and Gold Panning, as well as the launch of the new "Sweet On Theatre", which will feature romance productions such as MOONLIGHT and Flipped, and the new "Laugh On Theatre", which will feature comedy shows such as A Tale of Deyun Teahouse. iQIYI will continue developing different genres and expand its capacity to produce a variety of content types. Furthermore, the Company will continue to partner with talented actors and actresses across different age groups as it continues to provide premium shows that feature high-level performances and production values.
iQIYI will launch dramas such as The Rebel, Go Go Squid 2: Dt, Appledog’s Time, DEAR MISSY, My Dear Uniform and LuoYang. These shows discuss social issues that are relevant to modern society, interpret youth content and transmit traditional cultural values. In terms of iQIYI’s IP reserve, the Company has a strong collection of famous drama series such as Fox Spirit Matchmaker and Beyond The Ocean. They will help further satisfy the audience’s needs for classic drama series.
About iQIYI, Inc.
iQIYI, Inc. 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.
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