iQIYI Jointly Sponsors Hatsune Miku 2019 China Concert Tour to Tap into the Commercial Value of Two-dimensional Culture Industry

BEIJING, Nov. 7, 2019 /PRNewswire/ -- Japanese virtual idol Hatsune Miku's 2019 China Concert Tour, which is jointly sponsored by iQIYI, Inc ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, officially launched recently. The Japanese virtual idol will hold concerts in Shanghai, Chengdu, Beijing and Guangzhou from November 2 to 24. This is the first time that iQIYI is involved in an offline concert tour for Hatsune Miku, marking another milestone in iQIYI's attempt to develop the two-dimensional pan-entertainment industry following its collaboration with iQIYI's original virtual band RiCH BOOM and band member PRODUCER C at the iQIYI Scream Night concert.

With 600 million fans worldwide, Hatsune Miku was the opening act for Lady Gaga's world tour and has expanded her commercial footprint in many areas including music, fashion, advertising and gaming. iQIYI's collaboration with Hatsune Miku once again highlights its strategic planning and business capabilities in the two-dimensional pan-entertainment industry.

iQIYI maximizes commercial value of two-dimensional content through its diversified business model 

Capitalizing on its large membership base and comprehensive library of high-quality animation IP, iQIYI has developed several monetization approaches in the two-dimensional pan-entertainment industry to unleash the commercial value of high-quality content. In 2015, iQIYI provided an exclusive live broadcast of Hatsune Miku's first concert in mainland China. The concert's livestream page reached over 1.5 million in traffic. At the same time, iQIYI was also exploring online content monetization strategy for this world-renowned virtual animation IP. This year, iQIYI was directly involved in the preparation of Hatsune Miku's offline concert, as well as its ticket revenue sharing, providing fans with a one-stop pan-entertainment experience.

iQIYI carries out cross-industry chain investment and teams up with renowned national and international content creators

Committed to growing business in the entertainment industry in recent years, iQIYI has continuously been exploring and developing influential quality contents in the field of drama, variety show, film and animation. Leveraging on the business model covering the entirety of the company's entertainment offerings, iQIYI has established an IP-focused entertainment ecosystem through its "Apple Orchard" business model. Having access to extensive resources including comics, animation and literature, iQIYI is also actively building a two-dimensional pan-entertainment ecosystem that covers animation, film, gaming and location-based entertainment, tapping into the market of animation adaption, game development and offline entertainment offering.

In addition, iQIYI has also partnered with renowned national and international names in the area of film, game and live broadcast to improve its content ecosystem. For example, iQIYI and Viacom International Media Networks jointly produced the 3D animated series Deer Run, targeting an international audience. The Croods, a mobile game produced and released by iQIYI, topped the free games chart of Apple's Chinese App Store on the day of its release in 2019 and at one stage reached 500,000 in daily downloads for its Android version. Meanwhile, iQIYI has forged long-term and stable cooperation with companies including DeNA, Shueisha, Toei Animation and TV Tokyo.

Drawing on the successful experience accumulated through the live broadcasts of Hatsune Miku concerts, iQIYI officially experimented with an offline cooperation this year in an effort to push for synergy between online and offline quality two-dimensional content and boost creation of content ecology. This in turn would help create more possibilities for monetization of the two-dimensional industry and give rise to more new directions to navigate regarding the development of the entire animation industry.

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.

SOURCE iQIYI, Inc.

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