BEIJING, July 18,
2022 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ)
("iQIYI" or the "Company"), an innovative market-leading online
entertainment service in China,
today announced that the Company has entered into a definitive
agreement with Douyin, pursuant to which the Company will license
select content to Douyin for editing and distribution as short form
videos in the formats agreed by the two companies. The Company and
Douyin will also cooperate in other operational areas.
"The cooperation between iQIYI and Douyin demonstrates the
value recognition of iQIYI's exceptional content portfolio, as well
as the strength and longevity of the Company's premium long-form
video content. And more importantly, this is a milestone that
showcases the mutual respect and collective efforts in protecting
intellectual property." commented Mr. Yu
Gong, Founder, Director, and Chief Executive Officer of
iQIYI. "We believe our cooperation will unlock new opportunities
that will enrich the online video ecosystem, increase the value of
our existing intellectual property, broaden monetization
opportunities, and create win-wins for both platforms, content
creators, and our users."
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. We produce, aggregate and
distribute a wide variety of professionally produced content, or
PPC, as well as a broad spectrum of other video content in a
variety of formats. 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, online games, live broadcasting, IP licensing, talent
agency, online literature, etc.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and
similar statements. iQIYI may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
but not limited to statements about iQIYI's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, further
information regarding which is included in the Company's filings
with the Securities and Exchange Commission. All information
provided in this press release is as of the date of the press
release, and iQIYI undertakes no duty to update such information,
except as required under applicable law.
For further information, please contact:
Investor Relations
iQIYI, Inc.
+ 86 10 8264 6585
ir@qiyi.com
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SOURCE iQIYI, Inc.