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iQIYI’s new strategy: establish offline brick-and-mortar stores and set up a new consumer brand incubation fund.

Wang Xiangjun believes that online content will have a greater impact on residents' consumption habits in China in the future.

At the 2020 iQIYI iJOY press conference held today, iQIYI announced the latest strategy and shared new trends in online entertainment content and marketing. Wang Xiangjun, president and chief marketing officer of iQIYI NCG, said: “content will be the starting point of the new business model in the next 10 years. Content is affecting the consumption trend. Only by creating consumption scenes based on content and expanding the commercial extension, can brands seize the best consumption entrance in the next 10 years and become popular. “

In terms of reality shows, iQIYI focuses on youth idol ecology, youth trend culture, innovation, entrepreneurship, lifestyle, and other similar topics, trying to stand out in more and more reality shows in China. At the same time, iQIYI will join hands with Tencent Video to launch the key innovative program “Hahahahaha” on both platforms, which is an open reality show in the style of a road movie. In addition, iQIYI will also launch virtual character talent competitions such as “Trans-dimensional New Stars” and dramatists with Huang Lei and Lai Shengchuan as sponsors, such as the survival challenge reality show “you will shine” and other programs. The seventh season of “Strange talk” and the second season of “Summer of the Band” will also return.

In terms of online drama, in addition to the Mist Theater, iQIYI will launch the Sweet Theater, the appointment Theater, and the Lunar New year Theater, showing more genres of film and television dramas. IQIYI’s Mist Theater recently broadcast the widely acclaimed online drama “the Bad Kids”.

In terms of business model, iQIYI decided to try the recently popular live e-commerce in China, allowing stars and opinion leaders to participate in the live broadcast.

Wang Xiangjun said that iQIYI will develop offline markets and establish iQIYI offline stores to increase more interactive opportunities for online content. When “Fashion partner” was broadcast, it opened a FOURTRY experience store in Shanghai to sell individual items in a limited time. According to user feedback, “trend partner 2” will create an offline trend space FOURTRY SPACE which will land in many cities in China in the future. At present, more than 15 trend brands have confirmed their cooperation. In addition, with its influence, China New rap 2020 will participate in the launch of China’s first rap culture bar in Shanghai.

Wang Xiangjun believes that online content will have a greater impact on residents’ consumption habits in China in the future. As a result, iQIYI released the cultural brand BKStore, including graphic design, music and other artists, online community operators, as well as art exhibitions, live performances, and other offline experience layouts. In the future, iQIYI will open up platform resources and funds to set up a new consumer brand incubation fund IQBATOR, to incubate and cultivate new consumer brands with advertisers.

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