iQIYI Names Youth Idol Kris Wu as "CXO" to Upgrade VIP Brand Strategy

At the event, Kris Wu, along with hundreds of iQIYI subscribers and fans, called out the brand's proposition "Dare to be proud, Together we roar!" The new proposition is launched by iQIYI to show China's online video entertainment service has developed from the initial stage of focusing on providing content to a new phase that emphasizes brand differentiation and personal value expression.

Top-level management including Gong Yu, founder and CEO of iQIYI, Wang Xiaohui, Chief Content Officer and Chen Hongjia, Marketing VP also attended the event.

The online subscription business has been booming in China in recent years owing to the the growing consumption power of domestic users and the fast development of the online entertainment industry.

Echoing this trend, "iQIYI VIP", the brand name for iQIYI's paid subscription business, has evolved into a popular consumer brand representing China's young generation who embrace trendy cultures and unique values.

This summer, The Rap of China, an original music talent show produced by iQIYI, has become a truly cultural phenomenon among Chinese young people and makes headlines across the nation. Kris Wu, one of the four rappers' mentors in the show, becomes the hottest tag on major social media platforms such as Weibo and Baidu thanks to his professional comments on hip-hop singers and excellent performance on stage.

Gong Yu, founder and CEO of iQIYI, said: "iQIYI's VIP users are not only well off people with stronger consumption power, they also have respect for intellectual property rights as well as content producers. It's iQIYI's duty to present the best content to our VIP users and maintain good relationships with all quality content producers."

The paid subscription business has taken off in China's online video market since 2015. iQIYI, as the nation's leading video streaming platform with the largest user base, has been working hard to meet users' increasing demand for premium content and viewing experience, and promote the subscription business under the brand "iQIYI VIP".

In 2015, iQIYI unveiled its VIP brand strategy for the first time to provide its VIP subscribers with experiential consumption of premium content. In 2016, with a rapid growth of its subscriber base, the platform came up with the brand idea of "give me what I want" with a focus on users' all-round entertainment needs and precise marketing and operation strategies, which helped boost the iQIYI App to the seventh place on App Annie's "2016 Comprehensive Revenue Ranking of Global Apps".

In 2017, iQIYI prides itself on the successful transition from a leading premium content and service provider across the industry to a pioneering advocate of value expression. From now on, apart from being engaged content consumers, iQIYI VIP users will be more of the builders of a powerful entertainment brand, setting trends for the larger entertainment industry in China.

SOURCE iQIYI