BEIJING, April 17, 2019 /PRNewswire/ -- Wang Xiaohui, President of Professional Content
Business Group (PCG) and Chief Content Officer of iQIYI, Inc.
(NASDAQ: IQ) ("iQIYI" or the "Company"), recently delivered a
keynote speech on "China's New
Entertainment Model" at the Harvard College China Forum 2019, in
which he shared insights and outlook on the application of
technological innovation in online video streaming platforms in
China.
"Storytelling through films and dramas is perhaps the most
popular form of cultural entertainment for Chinese people, and it
must be simple yet emotional at the same time," said Mr. Wang.
"Content with oriental characteristics have a natural advantage in
the Asian market, however we believe that by broadening our content
selection and further raising the production quality, these content
will also be well received internationally."
Founded in 1997, Harvard College China Forum is North America's leading and longest-running
student-run conference on China.
Dedicated to a constructive dialogue on the challenges, trends, and
issues affecting China, the forum
aims to engage leaders in business, academic, and politics in a
discourse that offers insights and generates ideas. The topics of
Harvard College China Forum 2019 include finance and economics,
technology and entrepreneurship, entertainment, arts and cultures,
international development and relations, philanthropy, as well as
consumer and retails.
In recent years, China's
entertainment industry has undergone significant growth at a
consistently high speed. According to App
Annie's The State of Mobile 2019 report, in 2018, an average
of 3.5 hours a day was spent on mobile Apps for all electronic
devices in China. This makes
China the country with the longest
using hours out of all mature markets. On the outlook of
China's video streaming market,
Mr. Wang commented, "Video streaming Apps are and will always be an
important channel of entertainment for the public. There remains
huge growth potential for China's
video entertainment market and these will mainly be based on
dividends from a demographic, time and Apps perspective."
![iQIYI President of PCG & CCO Wang Xiaohui Speaks at Harvard College China Forum 2019 iQIYI President of PCG & CCO Wang Xiaohui Speaks at Harvard College China Forum 2019](https://mma.prnewswire.com/media/873228/Harvard_China_Forum.jpg)
iQIYI is also dedicated to exploring the growth potential of the
Chinese entertainment industry through its focus on the integration
of AI technology and diversified business models. As a
technology-driven entertainment company, iQIYI constantly pushes
the boundaries of what defines an entertainment provider by
applying AI technology to all aspects of its operations and
building a business model which covers operations including
advertisement, membership subscription, publishing, distribution
and other business derivatives.
iQIYI has always been a driver of innovation for the Chinese
entertainment industry, being one of the first platforms in
China to introduce licensed
content and the paid-membership system, setting a standard for what
Chinese consumers have come to expect of streaming platforms. iQIYI
has maintained this spirit of innovation by focusing on the
production of quality original content, operation of various
monetization models and the application of AI, in order to continue
to lead the innovative development of the Chinese entertainment
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. For
more information on iQIYI, please visit http://ir.iqiyi.com.
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SOURCE iQIYI, Inc.