BEIJING, March 18, 2019 /PRNewswire/ -- Dr. Gong Yu,
Founder and CEO of iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the
"Company"), delivered a keynote speech on the importance of
innovation in the entertainment industry at the Hong Kong
International Film & TV Market ("FILMART"), Asia's premier film industry event. At the
event, the company today unveiled a series of its new 2019 original
content.
"China's entertainment industry
has entered an exciting era that's built on rapid development
driven by growing consumer demand and technology advancement," said
Dr. Gong in his keynote
speech. "I'd like to share with you all a rule stating that
once a country's GDP per capita reaches US$8,500, its entertainment industry will
experience continuous growth that will last for over ten years at a
pace of over 10% per year. China's
GDP per capita last year was over US$9,000 - there is no better time for iQIYI
to take the lead in shaping China's entertainment industry."
Dr. Gong attributed the success of iQIYI's original content to
the company's deep understanding of consumers' needs and effective
business model. He noted that this is delivered by utilising and
investing in iQIYI's cutting-edge AI technology and innovative
talents, both essential to improving user experience and the
company's monetization capabilities.
Dr. Gong pointed out that for the past three centuries,
innovation has been key to advancing human and technology
development, highlighting that similarly, innovation is crucial to
ensuring the healthy growth of China's entertainment industry. He noted at
iQIYI, this innovation is embedded in all aspects of its business,
whether its in the company's talents, operation, technology, user
experience, or original content. The company is committed to
driving this innovation-led trend by becoming a technology-based
entertainment giant.
![iQIYI Founder and CEO Gong Yu Speaks at FILMART iQIYI Founder and CEO Gong Yu Speaks at FILMART](https://mma.prnewswire.com/media/837108/iQIYI_Gong_Yu_CEO.jpg)
iQIYI today launched its new content line-up at FILMART, which
includes original dramas The Golden Eyes, Legend
of White Snake, Sword Dynasty, The Thunder, as
well as new movies, animations and variety shows such as The Rap
of China 2, marking the
company's ongoing goal to provide more original content to the
Greater China and international
markets. Since 2017, iQIYI has proactively pursued overseas
distribution opportunities for its original content, and as a
result has secured a strong audience base in Southeast Asia and the Americas. The company
managed to break into the global market and has already distributed
over 1,000 episodes of original content on mainstream overseas
television and streaming platforms, including blockbuster drama Story of Yanxi Palace. This success has
established iQIYI as a major contributor to the advancement of the
Chinese entertainment industry by bringing up film and television
production in China to
international standards and successfully communicating the charm of
Chinese culture to overseas audiences.
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/iqiyi-founder-and-ceo-gong-yu-speaks-at-filmart-innovation-is-embedded-in-all-aspects-of-iqiyis-ecosystem-300813862.html
SOURCE iQIYI, Inc.