iQIYI launches over 300 titles at 2024 World Conference, fueling growth with diverse content and robust IP monetization

iQIYI, an innovative market-leading online entertainment service in China, announced an exciting lineup of over 300 new titles across genres at the iQIYI 2024 World Conference held on April 23-24. The company also introduced two new drama series brands and forged multiple strategic partnerships aimed at fueling growth with its premium content offerings and IP development.

The conference explored iQIYI's comprehensive content strategy, spanning drama series, films, variety shows, documentaries, animations, and sports programming, meticulously tailored to cater to the evolving needs of the audiences. Yu GONG, Founder and CEO of iQIYI, highlighted the company's commitment to realism in content creation and delivering high-quality and diverse offerings. Gong also emphasized the opportunities presented by generative AI advancements and demographic shifts in China, particularly the evolving entertainment requirements of children and the elderly population.

Multi-dimensional IP Development and New Partnership

At the conference, iQIYI showcased its strategic focus on cultivating IPs through various approaches, such as partnerships, seasonal releases, and integrative experiences.

The platform announced it has formed a partnership with Stephen CHOW's Bingo Group to produce innovative content that spans formats and genres surrounding popular IPs.

iQIYI also emphasized its dedication to developing IPs through seasonal releases, both in dramas and variety shows, by announcing several highly anticipated dramas like Ordinary Greatness 2 and The Fearless 2, as well as new seasons of popular variety IPs such as Hi! Young Farmers 2024, The Rap of China 2024, and The Detectives' Adventures Season 4. Additionally, it introduced new original shows like Burning Moon and My Zone.

Furthermore, sports enthusiasts will be captivated by iQIYI's impressive lineup, featuring prestigious global events such as the 2024 UEFA European Championship, the Premier League, the UEFA Champions League, and prominent golf and tennis Grand Slam tournaments.

As part of its evolving IP development strategy, the platform aims to craft more interactive and immersive experiences that seamlessly integrate various content formats such as drama series, variety shows, and animations. By extending these experiences into physical parks and VR immersive theaters, iQIYI seeks to enrich the value of its IPs and foster deeper viewer engagement across a diverse range of platforms and touchpoints.

Senior Vice President Gang WU emphasized that premium IPs not only help brands enhance recognition but also foster growth across economic cycles. With its premium content offerings and valuable user base, iQIYI has integrated marketing efforts across content, social, and consumption domains, enabling brands at various stages of development to capitalize on its platform's strengths.

Unleashing Creativity with Generative AI

Wenfeng LIU, Chief Technology Officer, shed light on how generative AI is transforming the company's content creation process. In the planning phase, for instance, generative AI empowers creators by harnessing trained models that can accurately identify compelling plot points within scripts. During production, the application of generative AI has significantly enhanced virtual production, sound design, and digital asset creation. A prime example is iQIYI's proprietary AI-powered IQ Stage virtual shooting system, which has successfully supported the filming of The Story of Mystics, a drama series showcasing extensive virtual shooting with a wide array of scenes.

Liu believes that AI-generated content should not be misinterpreted as competing with professionally produced content and user-generated content. Instead, creators across all content categories can leverage generative AI's capabilities to produce higher-quality content, leading to accelerated industry iteration and significantly increased innovation opportunities.

Throughout this process, iQIYI aims to amplify the value of creators by harnessing the leverage of generative AI, enabling them to unleash their unique creativity and exceptional aesthetics, resulting in the creation of even more captivating content.