CONTENT
iQIYI’s New Drama New Life Begins Reaches Content Popularity Index of Over 10,000
On Nov. 10, the romance comedy New Life Begins was aired exclusively on iQIYI. The drama series achieved a content popularity index of over 10,000 after being launched for only 28 hours, , ranking it the sixth and the fastest drama series to reach content popularity index of over 10,000 at iQIYI, since iQIYI launched the content popularity index in 2018.
iQIYI-presented Show New Life Begins
New Life Begins, starts with the theme of portraying the daily lives of many pairs of couples with small families and tells the happy and warm-hearted ordinary stories about the characters engaged in farming, gourmet food study and getting rich by starting their own business.
New Life Begins has become iQIYI's no.1 trending C-drama in seven markets including Thailand, the Philippines, Vietnam, Indonesia, and South Korea after only been aired for 3 days. Many overseas audience were also moved by the perspective and light-hearted romantic story plot.
TECHNOLOGY
XR Virtual Production Set for Fox Spirit Matchmaker (Yuehong Chapter) Disclosed for the First Time
On Nov. 7, shooting of the drama series Fox Spirit Matchmaker (Yuehong Chapter) presented by iQIYI was officially completed, and its Extended Reality (XR) virtual production set was disclosed for the first time. The blend of cutting-edge XR virtual production technology globally with oriental aesthetics has attracted a lot of attention.
XR virtual production set of Fox Spirit Matchmaker (Yuehong Chapter)
Fox Spirit Matchmaker (Yuehong Chapter) is the first commercial drama in China to adopt XR virtual production. Based on the released video, the biggest change in the shooting method is to replace the conventional green screen or blue screen for keying with LED panels. In fact, an array of variations in equipment, technology and processes are involved in this change, which have made considerable impact and even presented challenges to various processes such as content creation, performance, shooting, art, pre- and post-production.
As a pioneer in virtual production in China, iQIYI has applied this technology to various types of projects before using it in actual film and television projects. For example, the iQIYI’s virtual production team produced the first local 4K test film and a 4K virtual MV by using digital assetfrom the hit drama Luoyang as the virtual set, creating an all-encompassing process of digital assets application.
iQIYI Executives on How Technological Innovation Drives Film and Television Development
The award ceremony of the 35th China Golden Rooster Awards took place in Xiamen on Nov. 11. GONG Yu, CEO of iQIYI, and ZHU Liang, iQIYI Vice President and General Manager of Intelligent Production, were invited to speak at forums.
GONG Yu and ZHU Liang
"Film is a work of art that is only brought to life thanks to technological innovation. For the past 120 years, development of the film industry has been closely tied to technological advances," said Gong. Citing examples in filmmaking decisions, movie production model, audiovisual presentation, film variety, and distribution model, Gong argued that advances in technologies such as artificial intelligence (AI) would further deepen the ability for technologies to drive growth in the film industry.
Zhu identifies virtual production as a new trend in the industry. He remarked that leveraging virtual production technologies in the drama series Fox Spirit Matchmaker (Yuehong Chapter), iQIYI achieved a milestone in China's film and television industry. Zhu shared that iQIYI is also working closely with companies such as AMD and Nvidia to advance technological development and standard setting.
Access to emerging technologies ushers in new opportunities for creative production and brings improvement to the existing practices. Take iQIYI's Film and Television Production Management System as an example, it has now been applied to several original and sponsored content. With the help of the system, the efficiency of script breakdown has increased by 20 times while that of scene editing has improved by 10 times.
iQIYI aspires to become a technology-based entertainment giant that brings fun and joy to people and their families. "We want to leverage technology innovation to drive the development of the film and television industry and create more quality content. Technology innovation is an opportunity that we must embrace," said Gong.
iQIYI's IQDubbing System Wins Major 2022 CCF Award
The selection results of the 2022 CCF Award for Science and Technology were announced on Nov. 8, and iQIYI's IQDubbing system won the first prize for technological advancement. This is a further testament to iQIYI's technological innovations by authoritative awards in the tech industry.
IQDubbing is the first AI dubbing system in the industry to be applied for films and drama series. The R&D team from iQIYI has applied for 21 patents and six software copyrights, published three papers at top international conference on the IQDubbing-related technologies, and received multiple prestigious awards in China.
The CCF Award for Science and Technology, established in 2012, recognizes the achievements or programs of great social significance in computer science, technology and application.
BUSINESS
iQIYI Announces Revenue Sharing Model for Series of 2-15 Minutes
On Nov. 10, iQIYI announced the revenue sharing model for micro-short web series distribution. iQIYI streams micro-short series—each a stand-alone story about 2-15minutes in length—via two revenue sharing models: subscription revenue sharing and CPM advertising revenue sharing model. Specifically, iQIYI adopts the CPM advertising revenue sharing model for series with episodes that range from two to ten minutes in length, whereas episodes in the 10- to 15-minute length range adopts either the Subscription Revenue Sharing Model or the CPM Advertising Revenue Sharing Model.
For the subscription revenue sharing model, iQIYI calculates revenues by taking into account three factors: the number of new subscribers attracted, the effective duration of views, and advertising revenue. At the same time, iQIYI shares with producers the viewing and revenue data from seven terminals. YANG Haitao, Senior Vice President of iQIYI, said, "We're committed to bridging between premium content and users and making a wide range of content available on iQIYI. We also hope to work with more creators in providing quality content for our users and generate greater returns for all through iQIYI's open and transparent revenue sharing model."
iQIYI’s introduction of a revenue sharing model for micro-short series will enable producers of micro-short series to leverage commercial and service models iQIYI provides, which builds towards a fairer and more efficient creative environment for the content producers, as well as added consumer support for viewers.
Revenue Sharing Drama on iQIYI Sees Significant Growth
A report released on Nov.7 by Enlightent, an independent market research company, indicates that the view count for dramas released on iQIYI via the revenue sharing model saw an increase of 36% year-on-year. Moreover, seven iQIYI dramas were featured in the “Top 10 Revenue Sharing Drama Series by View” list.
iQIYI-presented revenue sharing drama Shining for One Thing
According to another interview with YANG Haitao, Senior Vice President of iQIYI, the overall revenue of iQIYI's revenue sharing dramas for the first half of the year increased by 87% year-on-year. Notably, the view count of Shining for One Thing, a series that streams exclusively on iQIYI via the revenue sharing model, reached 640 million and topped the ranking of online revenue sharing dramas. The drama has also generated impressive commercial returns. On the 216th day after it was released, Shining for One Thing became the first iQIYI revenue sharing drama reaching RMB 100 million in revenue.
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