At the iQIYI Autumn Recommendation Event "Joy Sharing" on September 26, iQiyi founder and CEO Gong Yu delivered a speech titled "All Things Flow, Nothing Remains." He stated that in recent years, iQiyi has clearly defined its strategy, and future offline business will become one of the company's core businesses. This offline business mainly includes experience business, divided into IP derivatives and theme parks.
Gong Yu mentioned that in terms of IP derivatives, iQiyi focuses on developing film and television IP, which is different from traditional cultural tourism development in various places. The company uses AI and digital scanning technologies during the development and filming of audio-visual content to ensure that elements such as props and sets can be preserved in the form of digital assets, thus accumulating rich materials for future IP derivative development.
When talking about park business, Gong Yu emphasized that this new type of theme park will provide important emotional value. Unlike traditional parks with large scale and high investment, iQiyi plans to build small-scale, highly interactive, and rapidly iterated parks. This exploration is pioneering globally. iQiyi will combine virtual reality and artificial intelligence technologies with the sound, light, and tactile experiences of traditional parks, aiming to provide users with an equally or more realistic experience in a smaller space. This concept will create a differentiated competition with existing theme parks.
Gong Yu also said that in terms of business model, iQiyi will be responsible for technology, content, and operations, while partners will mainly invest in fixed assets such as land and equipment, and both will share income from ticket sales, catering, and derivatives. Currently, iQiyi plans to open three parks in Yangzhou, Kaifeng, and Beijing Wangfujing, aiming to open them successively by the end of this year and next year.
Gong Yu made predictions about the impact of AI technology on the long and short video industry, stating that iQiyi's micro-series have initially achieved their goals. He mentioned that the market share and growth rate of vertical screen micro-series cannot be ignored, and through an innovative business model, it has become more sustainable. Gong Yu is optimistic that a commercially driven feature film led by AI may appear before the end of the year, which will bring new changes to the industry.
Key Points:
🎥 Gong Yu said that AI technology will disrupt the long and short video industry, and a commercially driven feature film led by AI may appear before the end of the year.
🌍 iQiyi plans to open new small-scale theme parks in Yangzhou, Kaifeng, and Beijing, providing strong interactive experiences.
📈 iQiyi ensures that props and sets of film and television IPs can be preserved as digital assets through AI and digital scanning technologies.
