iQIYI Unveils Short Video Strategy at Suike Carnival Held in Shanghai

Rhea-AI Summary

On November 7, iQIYI Inc. (NASDAQ: IQ) launched the inaugural Suike Carnival in Shanghai, a two-day event for its short video platform Suike. The carnival aims to connect young users with content creators, fostering community engagement. Key executives highlighted the importance of user involvement in content creation, especially in the 5G era. The event featured over 60 creators and facilitated interactions through various booths, with the Suike Night party scheduled for November 8. iQIYI focuses on leveraging technology to enhance user engagement and monetize its platform through diverse revenue streams.

Positive

• Launch of Suike Carnival enhances community engagement with users and content creators.
• Focus on user-generated content aligns with industry trends towards interactive platforms.
• Event features over 60 popular creators, broadening reach and audience interaction.

Negative

• None.

BEIJING, Nov. 8, 2020 /PRNewswire/ -- On November 7, iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, kicked off its inaugural Suike Carnival in Shanghai, a two-day interactive event held by the popular short video sharing platform Suike where young people have an opportunity to interact with their favorite content creators and find their favorite interest circles.

On the eve before the carnival, Liu Wenfeng, Chief Technology Officer and President of Infrastructure and Intelligent Content Distribution Business Group (IIG) of iQIYI, Ge Hong, Senior Vice President of iQIYI, Leon Chen, Senior Vice President of iQIYI, attended a welcome dinner with content creators and representatives from MNC organizations.

"With the popularization of smart devices and 5G, users involvement in the creation and editing of short videos will become a more common phenomenon. Video will be the most important form of information carrier in the 5G era as more information created, received and learned by users will be expressed through video carriers," Liu remarked at the dinner. "That is why iQIYI created Suike, a platform where content creators can create video content and find other users and creators that share the same interest."

The Suike Carnival, Suike's first interactive event for the short-video platform's creators and users, aims to extend the online community to the physical world, providing young people an opportunity to interact with their favorite content creators and find their favorite interest circles.

"Content creators are a key part of Suike's ecosystem. Going forward, Suike will build interest circles and invest more resources to make content creators the focus of different interest circles, so that more people can see and pay attention to high-quality creative content, and promote the deep connection and interaction between creators and fans," said Ge Hong in his speech to the creators at the dinner.

The Suike Carnival, a massive offline interactive carnival for young people, featured interactive booths by over 60 popular Suike creators, covering a wide range of interests. The event will be followed by the Suike Night party on the evening of November 8, where celebrities and creators will share the stage.

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.

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SOURCE iQIYI, Inc.

FAQ

What is the Suike Carnival launched by iQIYI?

The Suike Carnival is an interactive two-day event held in Shanghai, aimed at connecting young users with content creators on the Suike platform.

Who attended the Suike Carnival event on November 7?

Key executives from iQIYI, including Liu Wenfeng and Ge Hong, attended the welcome dinner with content creators and representatives from multinational organizations.

What is the significance of the Suike Carnival for iQIYI Inc. (NASDAQ: IQ)?

The carnival aims to extend online community interactions into the physical world, promoting deeper connections between creators and their audience.

When is the Suike Night party scheduled?

The Suike Night party is scheduled for the evening of November 8.

How does iQIYI plan to enhance user engagement on the Suike platform?

iQIYI is focusing on user involvement in content creation and building interest circles to promote high-quality creative content among users.