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Welcome to the blog about introducing IQIYI – The Netflix of China, a prominent streaming platform catering exclusively to Chinese audiences.
Launched in April 2010, IQIYI stands as a pioneer in online entertnment services, providing an extensive array of video content through its platform. The platform offers users access to movies, TV series, anime and beyond from the United States, Europe, India, and other Asian countries. Moreover, it's not just about streaming – IQIYI also excels at creating alongside these international offerings.
IQIYI operates on a freemium model that combines ad support with subscription fees, successfully converting approximately 250 million users who consume free content to over 20 million paying subscribers. The pd subscribers gn access to premium viewing experiences and an extensive catalog of top-quality content without ads. IQIYI also offers online gaming services launched in 2013 and distributes various film-related games through its mobile applications.
The ecosystem built by IQIYI has revolutionized the Chinese film industry. With a traditional limit of producing only around 600 films per year, many talented filmmakers struggled to find opportunities until IQIYI emerged as an alternative platform. By sharing movies online, production costs reduced, filming processes shortened and exposure doubled due to its massive user base.
IQIYI's business is closely tied to its big data capabilities that provide insights into viewers' preferences, such as age, ger, city, viewing time, etc. This information helps tlor according to viewer tastes while enabling the platform to analyze viewership patterns effectively.
As for concerns about short video platforms like TikTok potentially replacing IQIYI, it's crucial to understand their distinct differences. While TikTok targets shorter video formats, IQIYI focuses on a wider range of entertnment including movies and series that may resonate more with China's older demographic who prefer longer-form content.
IQIYI can be compared to YouTube in the West, where talented individuals or creators receive platfor showcase their work and gn recognition.
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