Foreign video streaming platform iQiyi recently showcased a variety of productions and partnerships through its international division at the Asia Television Forum & Market in Singapore. The company highlighted its collaboration with GHY Culture Media, a Singapore-based Chinese language theater, and reaffirmed its contract with the Singapore Tourism Board.
During an interview with Variety, Yang Xianghua, the president of films and international business at iQiyi, delved into topics such as the company’s increasing profitability, cost reduction strategies, and the incorporation of artificial intelligence (AI) technology.
When asked about the primary goal for the week, Yang expressed the intention to introduce the foreign company, showcasing its local production practices and activities.
Regarding the global operations of iQiyi, Yang emphasized the platform’s ambition to be a hub for beloved Eastern content, distinguishing itself from U.S. streaming services by focusing on Chinese language, Japanese animation, Korean content, and local productions. He highlighted the importance of tailored content to resonate with diverse audiences across different markets.
In terms of production locations and support, iQiyi’s application is accessible worldwide with subtitles available in 12 languages. However, the company’s primary focus for local content production lies in Thailand, Malaysia, and Taiwan.
Addressing revenue growth and subscription trends, Yang discussed the company’s strategy to enhance content quality, increase profits, and manage material expenses effectively. He emphasized the significance of key performance indicators such as Average Revenue Per User (ARPU) and the continuous improvement of content quality to drive success.
When discussing the distribution of content, Yang mentioned that iQiyi produces 10 to 30 series seasons annually in China, Thailand, and Malaysia. He elaborated on the importance of localized content to cater to specific market preferences and drive revenue.
In response to queries about membership tiers and content differentiation, Yang explained the distinctions between paid memberships and free access, highlighting exclusive benefits such as early access to content, higher video quality, and additional perks for paying subscribers.
Looking ahead, Yang outlined iQiyi’s commitment to sustained growth and success, aiming to expand into new markets while adapting to cultural nuances and consumer preferences. He emphasized the increasing global interest in Chinese culture and content, indicating a positive trajectory for the company’s international expansion.
In conclusion, Yang addressed the coexistence of reality-based modern shows and traditional Chinese dramas, suggesting that both genres will continue to thrive, catering to diverse audience preferences worldwide.
