Iqiyi Films has launched China Night at this year's Venice Film Festival and Busan Film Festival. In the upcoming US film trading market, a series of events and forums will also be held to discuss video on demand, film production techniques and new models, and so on.
Established in July 2014, iQiyi Films has inherent advantages in big data due to the support of its parent Baidu. iQiyi has become China's largest video site in 2014 and has taken a leading position in the video on demand market. With the continuous expansion of the market, the scale effect has gradually emerged. After seeing the possibility of realizing video and video services, iQiyi established a film company to meet the growing demand of online users.
The following is the speech of Iqiyi Li Yansong:
Iqiyi Film is a new movie company established in the Internet era. Unlike traditional movie companies, IGI Arts does not follow the traditional pattern of “development-production-promotion-distribution†step by step. Iqiyi Films will invest in high-quality movies such as "One Step away" and innovate the operation of the film business.
Specifically, we have obtained the rights of “one step away†online publishing, as well as exclusive rights to use related game development, merchandising, and e-commerce development. We also participated in the marketing and distribution of this movie. We expect that the participation of iQIYI will increase the box office's ticket sales by 10% to 30%. This is due to the various forms of early promotion or new film reminders we plan to implement to transform the users of iQIYI into consumers who purchase movie tickets.
iQiyi has established its own O2O marketing team. Most of the members of the team are young and experienced netizens, and have a very high level of technology and rich social experience. iQIYI will also establish a distribution team in 2015.
The primary task of IGI's early development is not the development of independent intellectual property rights. IGI’s founder and CEO, Gong Yu, stated at the film company’s listing ceremony that iQiyi Film will become a service-oriented enterprise and provide marketing and technical support for traditional film and television companies.
In the long run, we will explore large-scale intellectual property, namely self-produced online TV dramas, movies, various programs, games, and tying sales that have gradually developed from popular content. At present, we are working with leading Chinese movie companies to promote their films. However, it is worth noting that the number of such companies does not exceed 10. So for iQiyi Films, this kind of cooperation is also the process of choosing the ideal partner. For example, we are currently working closely with Emperor Entertainment Group on "One Step away". We are also likely to continue to cooperate with Emperor Entertainment or similar companies on other films.
Cooperation with Hollywood studios is also our top priority, and we will also cooperate with top European studios. In fact, we have already negotiated with some large movie museums.
We also considered the importance of South Korea in content acquisition and film matching. In October of this year, we have purchased a large number of movies and TV series in the Busan Asian Film Market. We are also running several Chinese-South Korean films, including a powerful cast of romantic comedies, a small cost suspense film and remakes of some classic Korean films. Our partners in Korea are also large movie companies.
In terms of big data, iQiyi is currently preparing a database of video content viewers. In the past, the statistics that people used when analyzing the Chinese market were based on “everyoneâ€, which is not precise enough. The team of engineers from Baidu is differentiating data from different industries. Big data will play a key role in audience segmentation and content customization later. I am convinced that Internet companies will bring a number of advantages to the film industry. Therefore, the movie industry can also move toward customization: specific content can be produced in a specific way at a specific time.
We will launch a movie ticketing system by the end of 2014 that integrates gaming, e-commerce and tying products.
Iqiyi Films has launched China Night at this year's Venice Film Festival and Busan Film Festival. In the upcoming US film trading market, we will also hold a series of events and forums to discuss video on demand, technology and new modes of film and television production and so on. During the US movie trading market, we will also start a dialogue with Hollywood studios on potential cooperation.
Established in July 2014, iQiyi Films has inherent advantages in big data due to the support of its parent Baidu. iQiyi has become China's largest video site in 2014 and has taken a leading position in the video on demand market. With the continuous expansion of the market, the scale effect has gradually emerged. After seeing the possibility of realizing video and video services, iQiyi established a film company to meet the growing demand of online users.
The following is the speech of Iqiyi Li Yansong:
Iqiyi Film is a new movie company established in the Internet era. Unlike traditional movie companies, IGI Arts does not follow the traditional pattern of “development-production-promotion-distribution†step by step. Iqiyi Films will invest in high-quality movies such as "One Step away" and innovate the operation of the film business.
Specifically, we have obtained the rights of “one step away†online publishing, as well as exclusive rights to use related game development, merchandising, and e-commerce development. We also participated in the marketing and distribution of this movie. We expect that the participation of iQIYI will increase the box office's ticket sales by 10% to 30%. This is due to the various forms of early promotion or new film reminders we plan to implement to transform the users of iQIYI into consumers who purchase movie tickets.
iQiyi has established its own O2O marketing team. Most of the members of the team are young and experienced netizens, and have a very high level of technology and rich social experience. iQIYI will also establish a distribution team in 2015.
The primary task of IGI's early development is not the development of independent intellectual property rights. IGI’s founder and CEO, Gong Yu, stated at the film company’s listing ceremony that iQiyi Film will become a service-oriented enterprise and provide marketing and technical support for traditional film and television companies.
In the long run, we will explore large-scale intellectual property, namely self-produced online TV dramas, movies, various programs, games, and tying sales that have gradually developed from popular content. At present, we are working with leading Chinese movie companies to promote their films. However, it is worth noting that the number of such companies does not exceed 10. So for iQiyi Films, this kind of cooperation is also the process of choosing the ideal partner. For example, we are currently working closely with Emperor Entertainment Group on "One Step away". We are also likely to continue to cooperate with Emperor Entertainment or similar companies on other films.
Cooperation with Hollywood studios is also our top priority, and we will also cooperate with top European studios. In fact, we have already negotiated with some large movie museums.
We also considered the importance of South Korea in content acquisition and film matching. In October of this year, we have purchased a large number of movies and TV series in the Busan Asian Film Market. We are also running several Chinese-South Korean films, including a powerful cast of romantic comedies, a small cost suspense film and remakes of some classic Korean films. Our partners in Korea are also large movie companies.
In terms of big data, iQiyi is currently preparing a database of video content viewers. In the past, the statistics that people used when analyzing the Chinese market were based on “everyoneâ€, which is not precise enough. The team of engineers from Baidu is differentiating data from different industries. Big data will play a key role in audience segmentation and content customization later. I am convinced that Internet companies will bring a number of advantages to the film industry. Therefore, the movie industry can also move toward customization: specific content can be produced in a specific way at a specific time.
We will launch a movie ticketing system by the end of 2014 that integrates gaming, e-commerce and tying products.
Iqiyi Films has launched China Night at this year's Venice Film Festival and Busan Film Festival. In the upcoming US film trading market, we will also hold a series of events and forums to discuss video on demand, technology and new modes of film and television production and so on. During the US movie trading market, we will also start a dialogue with Hollywood studios on potential cooperation.
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