During the iQIYI World Conference in Beijing a few months ago, it not only unveiled its sustained growth strategy based on its high-quality content, but also announced an impressive lineup of more than 270 new titles, underscoring the substantial value that provides Premium content for the streamer.
Gong Yu, Founder and CEO of iQIYI, emphasized at the event the fundamental role that partnerships and co-productions, as well as capable teams and an efficient management system, play in the creation of quality content on video platforms. ‘These elements, along with effective monetization through membership services and advertising, will be the primary focus of the company’s future efforts’.
In line with its commitment to premium content, iQIYI revealed the imminent launch of an extensive slate of entertainment titles, including movies, drama series, variety shows and more, totaling more than 270 titles. ‘With this we demonstrate our ability to produce cutting-edge content that meets the constantly evolving interests of users’.
New thematic focuses in content
As for drama series, iQIYI introduced the «Ning Plan,» which describes the platform’s interest in epic and historical themes, such as Han Dynasty Epic, The Epic of Tang Dynasty, and Liang Jing Shi Wu Ri. Yu also made it clear that ‘the catalog will be nourished by finer and niche genres, meeting the demands of the audience’. Some of the new drama series that exemplify this are: Railway Policeman, Story of Kunning Palace and Golden Trio, each of them related to various themes. .
It is worth noting that since last year, the service has proposed to launch a base of 6 original titles, some of these have generated a lot of viewing and impact among the audience: A Lifelong Journey, Wild Bloom, Love Between Fairy and Devil, New Life Begins, The Knockout, and Chasing the Undercurrent, each achieved a content popularity rating of 10,000, earning them the designation of «domestic hits» by iQIYI standards.
Meanwhile, Wang Xiaohui, Chief Content Officer and President of Professional Content Business Group (PCG), stressed that balancing tradition with the search for innovation and better cinematographic quality is ‘the basis of the success of its content’: ‘The commitment and consistency continue to be strong elements in creating content that inspires and entertains.’
In terms of ‘variety’ titles, iQIYI highlights season 3 of The Big Band and Argonauts, as well as Xun Yin Huan You Ji, all shows this year that promise a ‘distinctive’ viewing experience by taking advantage of popular IPs the company has acquired. ‘In addition, driven by the increasing investment and resources we are injecting, the upcoming variety shows will cover a wide range of topics, including theatrical performances, game shows, outdoor documentaries, romance and more, catering to diverse interests of our users’, Xiaohui added.
Meanwhile, on the film segment, iQIYI will premiere titles such as Raid on the Lethal Zone, Wolf Hiding, Master Zhong and other high-quality productions. But what stands out most are the diversified release models, including iQIYI Cloud Cinema, reflecting the service’s commitment to driving quality advancements within the entertainment industry for all stakeholders involved.
Added to these announcements are service’s recent financial results for the second quarter of this year. Unaudited figures reveal that the platform’s second-quarter revenue rose to an impressive 7.8 billion yuan (approximately $1.1 billion), marking a notable 17% increase compared to last year. Additionally, the company’s second-quarter non-GAAP operating income saw extraordinary growth, increasing by a staggering 129% YoY to reach 786.4 million yuan (about $108.4 million).
