BEIJING, July 14, 2020 /PRNewswire/ -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, recently unveiled a rebranded Suike, its popular diversified video-sharing platform, at an exclusive live-streamed event.
Dr. Gong Yu, Founder and CEO of iQIYI, and Ge Hong, iQIYI Senior Vice President, joined pop idol group THE9's nine members, Suike's creators and other VIP guests at the event. Following the live-streamed event, hashtags including #THE9 Suike endorsers# and #Suike rebranding# went viral on Chinese microblogging site Weibo.
"Suike has an abundant and diversified selection of content that range from less than a minute to a few minutes or even a few hours in length. Suike is a platform where users can easily create and share videos with a large user community without having to be constrained by the need to meet professional production standards," said Dr. Gong during the event.
"In the past ten years, iQIYI has successfully created an "iQIYI" brand that covers long-form content for categories such as drama series, films, variety shows, documentaries, animation and children-friendly content. However, compared to a lot of other countries and regions, China's short-form video market is still in its infancy. We wish that through Suike we can use technological features such as AI and algorithms to help build a platform where non-professionals or small to mid-tier production teams can create and share quality video content to audience groups most suited to them anytime, anywhere."
THE9 to serve as endorsers for Suike
SVP Ge Hong announced at the event that THE9 will serve as Suike's brand endorsers as the positive, confident, young idol group perfectly matches Suike's youthful and exciting platform image. As endorsers, THE9 will share videos on the app and interact with users and fans via the platform. At the event, Ge Hong joined THE9 to launch the app's new logo and the brand's television commercial (TVC).
During the live streaming of the event, THE9 engaged with Suike content creators in online content creation sessions that focused on films and dramas, cosmetics and gourmet food, generating lively discussions among the app's users. In addition, Suike has also launched a creativity campaign to strengthen its engagement with quality content creators. The campaign entails content creativity competitions for film and TV, music, animation, comedy categories that encourage content creators to submit their best content to win prize money and benefits such as the opportunity to do voiceover work with THE9.
Building a market-leading video community
At the event, Ge Hong shared Suike's content strengths and recommended products through interactions with the app's users. He said, "Suike's advantage lies in its ability to cater to different audience groups by having a diversified content selection. For example, as one of Suike's key categories, film and TV category gathers a lot of high-quality content creators and works. Aside from film and TV commentaries, idol video mashups, as well as reaction videos, Suike welcomes content creators to share their high-quality productions that revolve around iQIYI's original films, drama series and variety shows."
As part of the rebranding, Suike's product pages were redesigned to cater to younger users and access to more videos was added. Features such as creation-sharing and community engagement were optimized to deliver better user experiences. Newly added features include a new dynamic tab, exclusive celebrity channels and communities to meet users' diverse entertainment needs such as viewing, creation and engagement.
The app's PUGC (Professional User Generated Content) short video content now covers a wide range of categories, including films, dramas and entertainment, encyclopedias, gaming and animation. The platform is now home to 3,000 channels and over 3 million creators. In addition, by leveraging iQIYI's advanced IP advantages, the platform also offers users a wide variety of long-form video content, such as films, variety shows, dramas and animation, adding competitive advantage to the platform offerings.
In another development, Suike launched long-term support programs such as Xinye Program and Xiyu Program to encourage the creation of quality content. The Company also offers incentives to introduce overseas content, as well as dedicated support programs for special categories. Known as 'Millions Unboxing' and 'Qichuang Endorsers', the dedicated support programs offer in total millions of RMB in cash and billions of traffic to the creators of outstanding content.
Suike is committed to becoming the premier streaming platform in China as it steps up efforts to deepen its presence from the content, creator, technology, community and commerce aspects and to improve its platform ecosystem.
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.
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