iQIYI and Poly Culture enter into a strategic partnership to drive growth through online and offline integration

According to the agreement, the partnership between iQIYI and Poly Culture will focus on various areas, including investment and production of film and television content, live theater production, art and children’s education, sharing membership and ticketing, location-based entertainment, cultural real estate and joint development of virtual idols and other intellectual property (IP) derivatives.

“Committed to content and technological innovation, iQIYI has laid a solid foundation that can now be leveraged by both companies to deliver additional value and create more opportunities,” said GONG Yu, Founder and CEO of iQIYI. , “I look forward to seeing the synergy that will be created as iQIYI and Poly Culture bring out their best through the company, which will form a solid foundation for future partnerships where both companies can continue to explore collaborations. »

WANG Bo, general manager of Poly Culture, also highlighted the shared development goals and opportunities between the two companies’ visions, noting that the two sides will jointly integrate resources throughout the supply chain, make full use of the each other’s advantages and together unlock new growth potential.

Poly Culture is rich in its offline resources. The company has a strong presence in theaters, film production, auctions, arts education and art museums, and it leads the industry in many segments in which it operates. It currently directly manages 68 cinemas and manages 248 franchise cinemas as well as more than 70 theaters.

Over the years, iQIYI has built up a large reserve of digital assetss and IPs. With its diverse entertainment content ecology as its foundation, iQIYI leverages its IPs to create different types of content, and the development of diversified IP franchises further enhances the viewing experience by increasing the variety of content options. For instance, Luoyang demonstrated the strength of iQIYI’s IP franchise development capability, with iQIYI’s Chinese Historic City (iCHCU) universe finding expression in movies, dramas, animations, comics, shows variety shows, documentaries, theatrical productions, virtual reality (VR) content and role-playing games.

SOURCE iQIYI

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