iQIYI to Kick Off Next Stage of IP Development Project with Adaptation of Online Comic 'Conspiracy of Love' into Live Action Online Drama

Second phase of the Welkin Project will adapt iQIYI's most popular online comic IP into multiple formats including films, online drama, cartoons and games

BEIJING, Aug. 17, 2018 /PRNewswire/ -- iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced it has commenced the second phase of its "Welkin Project" online comic IP development initiative. The second phase of the groundbreaking initiative, which aims at achieving maximum monetization of iQIYI's online comic IP, will kick off with the adaptation of "Conspiracy of Love," a popular comic exclusive to iQIYI, into a live-action online drama. Filming of the new adaptation began in late July in the city of Dalian in northeast China.

Launched in October 2017, the Welkin Project is a key part of iQIYI's strategy of exploring new ways to monetize the wealth of the company's exclusive IP. In the first phase of the Welkin Project, iQIYI adapted ten of its most popular comics into live-action internet films. The second phase of Welkin Project builds on this progress, diversifying the application of iQIYI's online comic IP into a greater variety of formats, including serial dramas, cartoons, and games, while investing capital in promising comics.

"We are delighted to kick off the second phase of the Welkin Project with an exciting live action adaptation of 'Conspiracy of Love,' one of the most loved exclusive comics from iQIYI," said Geng Danhao, Senior Vice President of iQIYI. "Serial comics are an extremely rich source of IP, attracting devoted fanbases. I am confident that this initiative will continue to play a significant role in iQIYI's development, as we find new ways to monetize our wealth of original content."

"Conspiracy of Love" is one of iQIYI's most popular serial comics. Within two months of being published on the iQIYI online platform, it accumulated more than two billion views, shooting to the top of the iQIYI comics rankings and drawing an even greater number of comic fans to iQIYI's platform.

In April, iQIYI's first comic to live-action film adaptation, "Single Mom Spy," racked up more than ten million views within its first week online, being consistently ranked as the film with the highest total shared revenue for five days after its premiere, demonstrating the power and appeal of iQIYI's IP.

About iQIYI, Inc.

iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company") 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 etc. For more information on iQIYI, please visit http://ir.iQIYI.com.

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