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☆ China's 'Netflix' iQiyi pivots toward an aging population in an AI era
▼ + stars: | 2024-04-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese video streaming platform iQiyi is turning its attention to the country's aging population, while using artificial intelligence tools to bolster content production. One of iQiyi's near-term goals is to improve the product offering for older users, CEO and founder Gong Yu said Tuesday at the company's annual conference. Gong also pointed to estimates that predict about one-fourth of China's population will be considered elderly in 2033, rising to one-third in 2053. Fewer children, Gong said, means each child becomes more important. He said iQiyi would improve the quality of its content for children.

Persons: Gong Yu, Gong Organizations: Netflix, CNBC Locations: China, U.S, BEIJING, iQiyi's

☆ IQiyi, the Netflix of China, posts first year of profits and says it's 'excited' about Sora
▼ + stars: | 2024-02-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is "excited" about potential new business opportunities with the emergence of OpenAI's text-to-video tool Sora. Speaking exclusively to CNBC on Thursday, Wang said such tools can help iQiyi tell stories more creatively, and that internally, it is exploring the text-to-video space. For 2023, iQiyi said Wednesday its original content accounted for a record 65% of major dramas it released. Other major Chinese video platforms with longer-form content include Tencent Video, Alibaba -owned Youku and Bilibili . Recent data insights show more people across China are watching iQiyi's content on internet-connected television sets, and, increasingly screens inside electric cars, Wang said.

Persons: Wang Jun, Wang, OpenAI, Sora, iQiyi Organizations: Bloomberg, Getty, CNBC, Apple Locations: BEIJING, U.S, Beijing, China

☆ What one key business indicator is saying about China's consumer recovery
▼ + stars: | 2023-06-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

"For 618, generally of course brands will be trying, but compared to before it's a bit more tired," said Ashley Dudarenok, founder of ChoZan, a China marketing consultancy. In the first quarter, the median disposable income of urban residents in China was officially 12,175 Chinese yuan ($1,739), up 3.9% from a year ago. A focus on affordabilitySluggish economic growth and uncertainty about future income have weighed on Chinese consumer spending since the Covid-19 pandemic. watch nowBrands are keen to spend more on ByteDance's Douyin, likely taking away from ad spending on Alibaba's Taobao and Tmall e-commerce platforms, Oliver Wyman's Xie said. And for brands spending on Douyin, he said the return on investment per ad dollar was getting lower.

Persons: Jade Gao, Ashley Dudarenok, Dudarenok, let's, Microsoft's Bing, Dave Xie, Oliver Wyman, Douyin, Oliver Wyman's Xie, ByteDance isn't, doesn't, Pinduoduo, Sun Hao, Sun, didn't, Trip.com, Kelly Shi Organizations: Afp, Getty, Baidu, Retail, Brands, Growth, Nestle, Netflix Locations: Beijing, BEIJING, China

☆ Bank of America loves this under-the-radar streaming stock out of China, sees 30% gain
▼ + stars: | 2023-03-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

There's plenty of upside for one streaming stock out of China, according to Bank of America. "IQ's strategy to focus on in-house content with higher quality control and lower production costs continues to benefit its subscription growth and ROI. IQ 1D mountain 1-day chart iQIYI shares are up more than 30% in 2023, following a 16% gain last year. What's more, the firm is expected to ramp up the level of in-house production. IQ is able to produce hit dramas across different genres and deliver increasing number of hit in-house content over the past several years," the note continued.

☆ Baidu says its alternative to ChatGPT is coming to the public in March
▼ + stars: | 2023-02-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Sun Yilei | ReutersBEIJING — Chinese tech giant Baidu said Wednesday its artificial intelligence product Ernie bot is set to open to the public next month. "We will embed Ernie bot into Baidu search first and we'll open it to the public in March," Baidu CEO Robin Li said Wednesday during an earnings call, according to a FactSet transcript. Stock Chart Icon Stock chart icon Baidu 12-month share performanceDespite widespread assessments that ChatGPT is transformative for tech, businesses don't have a clear path to monetization yet. For Ernie bot, public partnership announcements include Baidu-backed video streaming platform iQiyi's plans for connecting to the bot for search and AI-generated content. Baidu-backed electric car startup Jidu — which is set to start deliveries this year — also said it plans to incorporate Ernie bot.

☆ 'China's Netflix' iQiyi launches an immersive VR ride based on its own show
▼ + stars: | 2023-02-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Human players appear as avatars in iQiyi's immersive Luoyang VR experience, which opened to the public in Shanghai in February 2023. Baidu -backed iQiyi is sometimes dubbed China's Netflix since the Chinese online video platform also sells TV series and movies to subscribers. Tickets cost 198 yuan ($29) to 398 yuan each, according to a Yelp-like entry on China's DianPing app. Zhang Hang, iQiyi vice president who heads the company's Dreamverse studio behind the VR project, previously told reporters he expected the VR experience could see about 40,000 visitors a year per store. Zhang cast the VR experience more as a movie than an interactive game.

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