iQIYI China leads China’s online video pack | Media Analysis | Business
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iQIYI has now covered 600 million devices to become the leading video streaming provider in China, according to analysts’ iResearch.

iQIYI World Conference 2018 17 May 2018The online entertainment company enjoys total monthly usage of 6.388 billion hours, and is used more than 21.6 billion times per month, iResearch found.

The news comes as iQIYI presented its progressive ‘entertainment ecosystem’ to attendees of its two-day world conference in Beijing today (17 May).

Now involved in live action and animated content generation, literature, games, e-commerce, and live broadcasting, the company claims to have brought together the full IP industry chain and applied AI technology to power every aspect of its business.

The Baidu subsidiary is set to begin production on 37 films and 28 dramas under its online literature-IP programme, while eight internet films have started production under a plan focusing on generating film and gaming products from animation IP. Finally, iQIYI’s Dolphin Plan, which focuses on generating premium content, will launch its first five major titles in the second half of 2018.

iQIYI said it has also worked with major industry players, such as Baidu, and Dadi Cinema, to explore cooperation in technology, e-commerce and cinema chains.

“After eight years of user and content accumulation, iQIYI has successfully built an entertainment ecosystem by expanding into eight fields including film, drama, variety shows, animation, literature, games, e-commerce, and live broadcasting, connecting all the links of the entertainment industry chain with our popular IP,” said iQIYI founder and CEO Yu Gong.

“Through resource sharing and an open-platform attitude, we encourage partnerships that promote the sustainable and healthy development of our industry.”

Listed on NASDAQ in March, the Beijing-based company said it is developing collaborations for content generation and production, talent training, entrepreneurial support, and monetisation.

Its nine major IP monetisation methods are advertising, paid membership, publishing, distribution, and derivative business licensing.

In the third quarter of FY2017, iQIYI led China’s online video advertising market by revenue with 24.02%, followed by Tencent Video (23.72%) and Youku (23.04%). Together the companies had a market share of over 70%, according to China Internet Watch.