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iQIYI Reports Booming Viewing Time Across Diverse Content, AI Search Usage Skyrockets by 470%

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iQIYI reports significant growth in viewing time during Chinese New Year, with variety shows and drama series experiencing substantial surges. AI search usage also increased by 470%.
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The significant increase in viewing time for variety shows and the drama 'Always on the Move' during the Chinese New Year holiday on iQIYI's platform indicates a substantial shift in consumer behavior and preferences. This data is particularly important as it suggests a trend towards digital entertainment consumption, which could have implications for advertising revenue and content strategy. The surge in AI search usage by 470% also points to the successful integration of technology in enhancing user experience, which can be a competitive advantage in the crowded streaming market.

From a market research perspective, the popularity of original content like 'Always on the Move' and the 'Super Sketch Show' suggests that investments in exclusive, high-quality content can pay off in terms of viewer engagement and loyalty. This strategy not only attracts new subscribers but may also reduce churn rates. Additionally, the reported box office revenue from iQIYI's 'Action Master' season underscores the potential for monetizing content through innovative distribution channels like Cloud Cinema.

The reported viewership metrics from iQIYI over the Chinese New Year period are indicative of strong performance in terms of user engagement, which could translate to robust financial results for the quarter. A 400% increase in viewing time for a hit drama series and a 175% increase for variety shows, coupled with a 470% increase in AI search usage, are likely to positively affect the company's advertising and subscription revenues. The 6% uptick in film viewing and over 17 million RMB in box office revenue from the 'Action Master' season also suggest a healthy revenue stream from this content vertical.

For investors, these metrics may signal potential growth in iQIYI's market share and financial health. It's important to consider the impact of seasonal fluctuations, as the Chinese New Year is a peak period for entertainment consumption. However, the ability to capitalize on this period is crucial and could be a strong indicator of the company's operational efficiency and strategic content placement.

The intersection of entertainment and cultural tourism as seen with iQIYI's VR project 'Strange Tales of Tang Dynasty 2: To the West' is a novel approach that appears to be resonating with audiences. This strategy leverages popular intellectual properties (IPs) to create immersive experiences that extend beyond the screen, potentially creating new revenue streams and marketing opportunities. The 11.2% increase in viewing time for original drama series linked to these offline initiatives suggests that such synergies between digital content and physical experiences can amplify consumer engagement.

Furthermore, the rise in popularity of location-based themes, such as those seen in Northeast-themed films, indicates a broader trend in entertainment where regional culture and storytelling are gaining traction. This could inform future content creation strategies, influencing the types of narratives that are developed and how they are marketed to both domestic and international audiences.

Viewing time of variety shows and the new drama release 'Always on the Move' soar by 175% and nearly 400%, respectively

BEIJING, Feb. 19, 2024 /PRNewswire/ -- On February 19, iQIYI, an innovative market-leading online entertainment service in China, has released its report detailing the performance during the Chinese New Year (CNY) holiday period (Feb. 9 - Feb. 15), marking a period of remarkable growth and success. The data highlights a 175% increase in variety shows viewing time during the holiday compared to the pre-holiday period, and a nearly 400% viewing time surge of the hit drama Always on the Move, along with a 470% increase in AI search usage.

Variety Shows Dominate the Festivities

As China's most-watched TV program, the 2024 Spring Festival Gala (the Gala) produced and broadcast by China Media Group (CMG), secured the top spot in the variety show rankings on iQIYI during the seven-day holiday season, according to data from the iQIYI Research Institute.

Notably, casts from iQIYI's original variety shows and drama series were prominently featured in the Gala. Comedy talents from Super Sketch Show captivated a vast audience with their uproarious sketches, while the cast from Become a Farmer reunited and entertained the audience with their energetic performances on stage. The popularity of their appearances spurred a resurgence of interest in both Super Sketch Show and its sequel, prompting both installations to consistently rank among the top 10 variety shows on iQIYI.

“Become a Farmer” Variety Show Poster

 

“Super Sketch Show 2” Variety Show Poster

iQIYI Original Dramas Thrive and Captivate Audiences

For the fifth consecutive year, iQIYI has dominated the CNY holiday season with its highly anticipated drama series. This year's offering, the period drama Always on the Move, triumphed again with an astounding nearly 400% surge in viewing time during the holiday season compared with the pre-holiday period, following the footsteps of the incredible success of A Lifelong Journey and The Knockout in 2022 and 2023 respectively.

“Always on the Move” Drama Series Poster

Meanwhile, previous original dramas also continue to capture audiences. Data indicates that the eight previous acclaimed dramas from iQIYI, including Destined, Mysterious Lotus Casebook, and Story of Kunning Palace, all achieved top 30 rankings for viewing time during the holiday period.

Action Films Surprise and AI Technologies Enhance the Viewing Experience

In a similar trend, films recorded a 6% uptick in viewing time compared to the previous period, with the comedy Johnny Keep Walking! claiming the top spot in the ranking. Noteworthy among the highlights were three action films from iQIYI's recently launched 'Action Master' season: Blocking the Horse, Eye for an Eye 2, and Hunt the Wicked. Notably, the latter two films claimed the second and third positions on iQIYI's film popularity index. Together, these three action films collectively achieved a box office revenue of over 17 million RMB (approximately 2.4 million USD) on iQIYI Cloud Cinema, where the company bagged more than 2.08 million ticket sales during the seven-day holiday.

Additionally, iQIYI's cutting-edge technologies, including AI search, provided viewers with a seamless and immersive experience, enabling effortless access to popular scenes and delivering intelligent personalized recommendations for film choices. The data shows a remarkable 470% increase in AI search usage during the holiday period.

Popular IPs Spark Tourism Buzz and Propel Drama Popularity

Beyond its digital offerings, iQIYI expanded into offline initiatives in tourist-favored cities over the CNY holiday. Prior to the holiday festivities, iQIYI launched its VR project Strange Tales of Tang Dynasty 2: To the West in Xi'an, Shaanxi province, offering visitors a mesmerizing fusion of traditional and contemporary elements, thus drawing crowds of eager audiences. This surge in cultural tourism activities has concurrently boosted the viewing time of original drama series, resulting in an 11.2% increase in viewing time on iQIYI. A similar trend has been observed with the surge in popularity of the northeastern city of Harbin, Heilongjiang province, and the rise of Northeast-themed films, such as Fight Against Evil.

CONTACT: iQIYI Press, press@qiyi.com 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/iqiyi-reports-booming-viewing-time-across-diverse-content-ai-search-usage-skyrockets-by-470-302064968.html

SOURCE iQIYI

Variety shows on iQIYI saw a 175% increase in viewing time during the Chinese New Year holiday period.

The drama series 'Always on the Move' experienced a nearly 400% surge in viewing time during the Chinese New Year holiday on iQIYI.

AI search usage on iQIYI increased by 470% during the Chinese New Year holiday period.

The three action films on iQIYI Cloud Cinema collectively achieved a box office revenue of over 17 million RMB (approximately 2.4 million USD) during the Chinese New Year holiday period.

iQIYI launched its VR project 'Strange Tales of Tang Dynasty 2: To the West' in Xi'an, Shaanxi province during the Chinese New Year holiday.
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