iQIYI Launches IMAX Enhanced, Bringing Home Entertainment to a New Level

Rhea-AI Summary

iQIYI, Inc. (Nasdaq: IQ) announced its partnership with IMAX and DTS to launch IMAX Enhanced on its QIYIGuo TV application, offering users a high-quality movie-watching experience at home. This service combines 4K HDR content with DTS audio technologies, marking iQIYI as one of the first platforms in China to provide this feature. Subscribers can enjoy acclaimed films such as Inferno and Men in Black 3. The initiative aligns with a growing trend of smart TV use, indicating a significant shift in consumer behavior towards big-screen entertainment.

Positive

• Partnership with IMAX and DTS enhances content quality with IMAX Enhanced features.
• Introduction of IMAX Enhanced positions iQIYI as a leader in home entertainment in China.
• Growing demand for smart TVs as indicated by increased user hours compared to mobile devices.

Negative

• None.

BEIJING, Feb. 10, 2021 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced its smart TV application QIYIGuo TV is partnering with IMAX and DTS to launch IMAX Enhanced on application, bringing immersive movie-watching experiences to its subscribers' living rooms.

IMAX Enhanced combines digitally remastered 4K HDR content and DTS audio technologies with best-in-class consumer electronics products and streaming platforms. IMAX Enhanced is the only way to experience IMAX's signature picture, sound and scale outside of a movie theater.

QIYIGuo TV is one of the first streaming platforms in China to provide IMAX Enhanced content. QIYIGuo TV took the lead in the space by partnering with Hisense's high-end U7F-series smart TV to ensure viewers can experience IMAX's signature audio and visual experience at home. It is now expanding similar partnerships with more hardware vendors to deliver the same online viewing experience to users.

With the launching of the program, iQIYI subscribers can enjoy IMAX Enhanced content such as Inferno, Men in Black 3, The Amazing Spider-Man 2, Resident Evil: The Final Chapter, Spider-Man 2: The Hero Returns, and other blockbusters on QIYIGuo TV. With support from industry-leading device partners, high quality remastered 4K HDR image and DTS immersive audio , subscribers can be fully immersed in the movie.

According to iQIYI's own data, the total hours spent by users on smart TVs in November 2020 had already exceeded that of mobile phones and tablets combined, indicating that the younger generation of consumers is shifting to big screens. The rise in smart TV use for watching movies has been driven by the intelligent acceleration of intelligent terminal product as well as the rise of 5G and the growing abundance of UHD content. The smart TV has thus become the single most important entertainment device in living rooms in the Internet era. 5G, VR, UHD, HDR and other rapidly-developing technologies not only enhance the immersive entertainment experience, but also bring new development opportunities for entertainment innovation.

iQIYI has long been committed to providing leading UHD solutions for different movie-watching scenarios, forging partnerships with leading hardware vendors and sourcing a wide range of content to meet its subscribers' diverse needs.

Last July, iQIYI launched 'Zhen Qi Ying Hua', a mix of four leading cinema technologies (4K MAX, ultra-high frame rate, HDR, and Dolby Atmos), for TV users. With the introduction of IMAX Enhanced content to QIYIGuo TV, iQIYI has once again raised the bar for the home entertainment experience, injecting new vitality into the audio and video experience for its subscribers.

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.

About Xperi Corporation

Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS, HD Radio, IMAX Enhanced, Invensas, TiVo), and by its startup, Perceive, make entertainment more entertaining, and smart devices smarter. Xperi technologies are integrated into billions of consumer devices, media platforms, and semiconductors worldwide, driving increased value for partners, customers and consumers.

Xperi, DTS, IMAX Enhanced, Invensas, HD Radio, Perceive, TiVo and their respective logos are trademarks or registered trademarks of affiliated companies of Xperi Holding Corporation in the United States and other countries. All other company, brand and product names may be trademarks or registered trademarks of their respective companies.

About IMAX Corporation

IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theaters to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of September 30, 2020, there were 1,632 IMAX theater systems (1,542 commercial multiplexes, 13 commercial destinations, 77 institutional) operating in 82 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."

IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, IMAX nXos® and Films to the Fullest®, are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Instagram (https://www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).

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SOURCE iQIYI

FAQ

What is the significance of iQIYI partnering with IMAX and DTS?

The partnership allows iQIYI to offer IMAX Enhanced content, improving the quality of home entertainment by providing immersive experiences with 4K HDR and DTS audio.

What films are available on iQIYI's QIYIGuo TV with IMAX Enhanced?

Subscribers can enjoy popular films like Inferno, Men in Black 3, The Amazing Spider-Man 2, and Resident Evil: The Final Chapter.

How is user behavior changing regarding movie-watching in China?

According to iQIYI's data, users are increasingly shifting to smart TVs, spending more hours watching on these devices than on mobile phones and tablets.

What technology enhancements does IMAX Enhanced provide?

IMAX Enhanced combines digitally remastered 4K HDR content with advanced DTS audio, delivering a cinematic experience at home.

When was the IMAX Enhanced service launched on QIYIGuo TV?

The partnership and launch of IMAX Enhanced on QIYIGuo TV were announced on February 10, 2021.