A New Ecosystem Blending Long and Short Form Content
iQIYI is expanding into short-form dramas with the launch of its brand-new ‘Micro-Drama Theater’ and ‘Short-Drama Theater,’ which will be available exclusively to paid subscribers. This strategic initiative addresses the growing demand for concise storytelling and short-form content, building on the success of iQIYI’s acclaimed ‘Light On Theater’ —a collection of tightly written suspense series known for their high production quality.
Yu GONG, Founder and CEO of iQIYI, stated, “These offerings are not just low-budget online series; they continue to reflect our dedication to premium production and creativity. We also plan to collaborate with industry partners to drive further innovation. While many companies allocate over 90% of their revenue to promoting the content, iQIYI directs more than 70% back to content producers.”
Xiaohui WANG, iQIYI’s Chief Content Officer, elaborated on the strategic integration of long and short video formats, which leveraged the company’s established strengths in long-form video content. The ‘Micro-Drama Theater’ will debut two new titles each week, targeting a diverse audience that includes both younger and older demographics, with mobile-optimized vertical dramas lasting between 1 and 5 minutes. Meanwhile, the ‘Short-Drama Theater’ will introduce one new title weekly across various genres, featuring episodes that range from 5 to 20 minutes in a horizontal format.
This short-form drama strategy also unlocks new commercial opportunities for brand marketing. Senior Vice President Gang WU highlighted that short-drama marketing is specifically crafted to effectively engage targeted audiences. By providing tailored content that resonates with viewers, iQIYI ensures impactful brand messaging and delivers comprehensive marketing solutions for its partners.
Expanding Global Appeal of C-Dramas and IP Growth
The global appetite for Chinese drama is surging, with C-dramas gaining substantial popularity in Southeast Asia and becoming the top choice for local viewers, according to the latest Q1 2024 data from AMPD, the digital measurement platform owned and operated by Media Partners Asia (MPA).
Gong noted, “The marketing value of C-drama content in overseas markets has increased significantly. Content creators should prioritize developing offerings tailored for global audiences.” Currently, half of content on iQIYI International consists of Chinese mainland productions, supplemented by dramas from Thailand, Japan, and Korea, along with local productions for markets including Malaysia.
During the event, iQIYI unveiled an exciting slate of upcoming dramas spanning various genres and committed to enhancing its existing drama IPs to further increase the impact of its premium content, including a sequel to Tales of the Tang Dynasty, which is currently in development. Similarly, popular variety show IPs, such as Become a Farmer, are set to return alongside new original content, bringing together top industry professionals for production. Furthermore, iQIYI is committed to diversifying its content offerings in documentaries, films, animation, kids’ content, and sports, further strengthening its comprehensive content matrix.
Wang also highlighted iQIYI’s efforts to explore the vast opportunities in integrating content with cultural tourism, as exemplified by the positive market response to iQIYI’s VR immersive theaters that meet the evolving demand for diverse content experiences.
Additionally, iQIYI’s signature annual Scream Night is set to return on December 7 at the Galaxy Macau, celebrating major milestones in the film and television industry while honoring outstanding creators and their works. Numerous stars and industry leaders are expected to attend, marking a significant moment on the entertainment calendar.
Harnessing AI Technology for Enhanced User Experience
Gong shared that iQIYI is currently developing its intelligent assistant, Taodou 2.0, which integrates advanced language model technology along with features such as recommendations, search, and customer support. Currently, users can engage in conversations with fictional characters via Taodou 1.0 within the iQIYI app.
These initiatives exemplify how the company is leveraging the evolving landscape of AI technology to transform traditional content distribution methods and enhance interactions between users and machines, creating a more emotionally resonant experience.
