iQIYI Unveils Over 300 New Titles at 2024 iJOY Conference, Emphasizing Short Dramas
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IQIYI Unveils over 300 New Titles at the 2024 iJOY Conference, Adding Focus on Short Dramas to Accelerate Growth
iQIYI announced the upcoming release of over 300 new titles across diverse genres over the next year, at its iJOY Conference held in Shanghai. The company highlighted its strategic expansion into short dramas, introducing content that leverages the growing global popularity of Chinese content while utilizing innovative AI to navigate emerging industry trends. iQIYI is expanding into short-form dramas with the launch of its brand-new 'Micro-Drama Theater' and 'Short-Drama Theater,' which will be available exclusively to paid subscribers. This strategic initiative addresses the growing demand for concise storytelling and short-form content, building on the success of iQIYI's acclaimed 'Light On Theater' --a collection of tightly written suspense series known for their high production quality. This short-form drama strategy also unlocks new commercial opportunities for brand marketing. Senior Vice President Gang WU highlighted that short-drama marketing is specifically crafted to effectively engage targeted audiences. By providing tailored content that resonates with viewers, iQIYI ensures impactful brand messaging and delivers comprehensive marketing solutions for its partners. The global appetite for Chinese drama is surging, with C-dramas gaining substantial popularity in Southeast Asia and becoming the top choice for local viewers, according to the latest First Quarter 2024 data from AMPD, the digital measurement platform owned and operated by Media Partners Asia (MPA). During the event, iQIYI unveiled an exciting slate of upcoming dramas spanning various genres and committed to enhancing its existing drama IPs to further increase the impact of its premium content, including a sequel to Tales of the Tang Dynasty, which is currently in development. Similarly, popular variety show IPs, such as Become a Farmer, are set to return alongside new original content, bringing together top industry professionals for production. Furthermore, iQIYI is committed to diversifying its content offerings in documentaries, films, animation, kids' content, and sports, further strengthening its comprehensive content matrix. Wang also highlighted iQIYI's efforts to explore the vast opportunities in integrating content with cultural tourism, as exemplified by the positive market response to iQIYI's VR immersive theaters that meet the evolving demand for diverse content experiences. Additionally, iQIYI's signature annual Scream Night is set to return on December 7 at the Galaxy Macau, celebrating major milestones in the film and television industry while honoring outstanding creators and their works. Numerous stars and industry leaders are expected to attend, marking a significant moment on the entertainment calendar. Gong shared that iQIYI is currently developing its intelligent assistant, Taodou 2.0, which integrates advanced language model technology along with features such as recommendations, search, and customer support. Currently, users can engage in conversations with fictional characters via Taodou 1.0 within the iQIYI app. These initiatives exemplify how the company is leveraging the evolving landscape of AI technology to transform traditional content distribution methods and enhance interactions between users and machines, creating a more emotionally resonant experience.
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iQIYI Unveils Over 300 New Titles at the 2024 iJOY Conference, Adding Focus on Short Dramas to Accelerate Growth - iQIYI (NASDAQ:IQ)
C-Dramas Become Leading Choice in Southeast Asia BEIJING, Sept. 26, 2024 /PRNewswire/ -- On September 25, iQIYI, China's leading online entertainment platform, announced the upcoming release of over 300 new titles across diverse genres over the next year, at its iJOY Conference held in Shanghai. The company highlighted its strategic expansion into short dramas, introducing content that leverages the growing global popularity of Chinese content while utilizing innovative AI to navigate emerging industry trends. A New Ecosystem Blending Long and Short Form Content iQIYI is expanding into short-form dramas with the launch of its brand-new 'Micro-Drama Theater' and 'Short-Drama Theater,' which will be available exclusively to paid subscribers. This strategic initiative addresses the growing demand for concise storytelling and short-form content, building on the success of iQIYI's acclaimed 'Light On Theater' -- a collection of tightly written suspense series known for their high production quality. Yu GONG, Founder and CEO of iQIYI, stated, "These offerings are not just low-budget online series; they continue to reflect our dedication to premium production and creativity. We also plan to collaborate with industry partners to drive further innovation. While many companies allocate over 90% of their revenue to promoting the content, iQIYI directs more than 70% back to content producers." Xiaohui WANG, iQIYI's Chief Content Officer, elaborated on the strategic integration of long and short video formats, which leveraged the company's established strengths in long-form video content. The 'Micro-Drama Theater' will debut two new titles each week, targeting a diverse audience that includes both younger and older demographics, with mobile-optimized vertical dramas lasting between 1 and 5 minutes. Meanwhile, the 'Short-Drama Theater' will introduce one new title weekly across various genres, featuring episodes that range from 5 to 20 minutes in a horizontal format. This short-form drama strategy also unlocks new commercial opportunities for brand marketing. Senior Vice President Gang WU highlighted that short-drama marketing is specifically crafted to effectively engage targeted audiences. By providing tailored content that resonates with viewers, iQIYI ensures impactful brand messaging and delivers comprehensive marketing solutions for its partners. Expanding Global Appeal of C-Dramas and IP Growth The global appetite for Chinese drama is surging, with C-dramas gaining substantial popularity in Southeast Asia and becoming the top choice for local viewers, according to the latest Q1 2024 data from AMPD, the digital measurement platform owned and operated by Media Partners Asia (MPA). Gong noted, "The marketing value of C-drama content in overseas markets has increased significantly. Content creators should prioritize developing offerings tailored for global audiences." Currently, half of content on iQIYI International consists of Chinese mainland productions, supplemented by dramas from Thailand, Japan, and Korea, along with local productions for markets including Malaysia. During the event, iQIYI unveiled an exciting slate of upcoming dramas spanning various genres and committed to enhancing its existing drama IPs to further increase the impact of its premium content, including a sequel to Tales of the Tang Dynasty, which is currently in development. Similarly, popular variety show IPs, such as Become a Farmer, are set to return alongside new original content, bringing together top industry professionals for production. Furthermore, iQIYI is committed to diversifying its content offerings in documentaries, films, animation, kids' content, and sports, further strengthening its comprehensive content matrix. Wang also highlighted iQIYI's efforts to explore the vast opportunities in integrating content with cultural tourism, as exemplified by the positive market response to iQIYI's VR immersive theaters that meet the evolving demand for diverse content experiences. Additionally, iQIYI's signature annual Scream Night is set to return on December 7 at the Galaxy Macau, celebrating major milestones in the film and television industry while honoring outstanding creators and their works. Numerous stars and industry leaders are expected to attend, marking a significant moment on the entertainment calendar. Harnessing AI Technology for Enhanced User Experience Gong shared that iQIYI is currently developing its intelligent assistant, Taodou 2.0, which integrates advanced language model technology along with features such as recommendations, search, and customer support. Currently, users can engage in conversations with fictional characters via Taodou 1.0 within the iQIYI app. These initiatives exemplify how the company is leveraging the evolving landscape of AI technology to transform traditional content distribution methods and enhance interactions between users and machines, creating a more emotionally resonant experience. CONTACT: iQIYI Press, [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/iqiyi-unveils-over-300-new-titles-at-the-2024-ijoy-conference-adding-focus-on-short-dramas-to-accelerate-growth-302260073.html SOURCE iQIYI Market News and Data brought to you by Benzinga APIs
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iQIYI, a leading Chinese streaming platform, announced more than 300 new titles at its 2024 iJOY Conference. The company is expanding its focus to include short dramas, aiming to accelerate content innovation and user growth.
iQIYI's Ambitious Content Lineup
Chinese streaming giant iQIYI has unveiled an impressive slate of over 300 new titles at its 2024 iJOY Conference, signaling a significant push in content production and innovation 1. The announcement, made on September 26, 2023, showcases the company's commitment to diversifying its offerings and maintaining its position as a leading entertainment platform in the region.
Emphasis on Short Dramas
In a notable shift, iQIYI is placing a strong emphasis on short dramas, recognizing the growing popularity of this format among viewers 2. This strategic move is aimed at catering to changing consumer preferences and accelerating user growth. The company plans to produce more than 100 short drama series, demonstrating its dedication to this emerging trend in content consumption.
Diverse Content Across Genres
iQIYI's new lineup spans a wide range of genres, including dramas, variety shows, films, and animations 1. This diverse approach ensures that the platform can cater to a broad audience with varying tastes. Some of the highlighted titles include "The Lonely Warrior," "Hei Jin Bang," and "My Journey to You," showcasing the platform's commitment to high-quality, engaging content.
Technological Innovation in Content Creation
The streaming platform is not just focusing on content quantity but also on technological innovation. iQIYI announced the application of its proprietary AI technology in content production, particularly in areas such as casting and script creation 2. This integration of AI aims to enhance efficiency and creativity in the content development process.
International Expansion and Partnerships
iQIYI's ambitions extend beyond the domestic market, with plans to expand its international presence. The company is actively seeking collaborations with overseas partners to create content that appeals to a global audience 1. This strategy aligns with iQIYI's goal of becoming a major player in the international streaming landscape.
Focus on User Experience and Engagement
At the core of iQIYI's strategy is a strong focus on user experience and engagement. The company is leveraging its vast user data and AI capabilities to personalize content recommendations and enhance the overall viewing experience 2. This user-centric approach is designed to increase viewer satisfaction and loyalty.
Market Impact and Future Outlook
The announcement of such an extensive content lineup has significant implications for the competitive landscape of the streaming industry in China and potentially globally. As iQIYI continues to innovate and expand its offerings, it is likely to strengthen its market position and challenge other major players in the space 1.
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