Sure didn't impress buyers when it was released yesterday: "iQIYI Launches Comprehensive Upgrade of Reading App" Literature to become key part of iQIYI's diverse selection of original content IP
BEIJING, July 19, 2018 /PRNewswire/ --
iQIYI, Inc. ( NASDAQ:IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, today announced a comprehensive upgrade of its iQIYI Reading app which was launched by iQIYI Literature, a unit of iQIYI. The new version of the reading app (iOS 1.7.0 and Android 1.7.1) includes an enriched user experience, better customer service and an improved, streamlined interface. After this upgrade, new users of the app will have access to 30 days of free reading, complete with special discounts and benefits.
iQIYI Reading aggregates more than a hundred thousand of the internet's best works from almost 60,000 different authors into a single, convenient platform, spanning everything from internet masterpieces to light novels. The launch of the app is part of iQIYI's current drive to expand its business across all sectors of entertainment by incubating and developing more top-quality IP content.
Among the vast stock of content available to users on the iQIYI Reading app are exclusive online releases such as "Mysterious Seas and Lands of Wonder: The Matchless Pearl" by famous writer Tang Jia San Shao, who topped the Chinese online fiction writers rich list. The app also features several new releases from famous writers, featuring content from both writer Tian Xia Ba Chang and bestselling author Liu Tong.
"We are delighted to launch this exciting upgrade to iQIYI Reading app," said Geng Danhao, iQIYI's Senior Vice President. "As we seek to expand and diversify our selection of online content, it is more important than ever to incubate new IP through our unique literature platform. We believe that as iQIYI continues to grow and encompass more sectors of entertainment, IP will serve as the engine that drives us forward."
iQIYI's offering in literature is a key component in the company's strategy of incubating original IP. Works which begin as online literature can be adapted into different forms of content, such as video, allowing for strong monetization and the creation of a holistic IP ecosystem. iQIYI has been actively working to develop its selection of IP since August 2017, when it launched its Yunteng Plan. One of the first works to be trialed under the Yunteng Plan was online novel "Waiting For You In A Long Time" written by iQIYI Literature-supported author Man Xue Shi Yi. In order to fully realize the commercial potential of this original content, iQIYI joined together with partner producers to adapt "Waiting For You In A Long Time" into an online drama of the same name. The resulting drama attained 5 million views within 3 days of its release on the iQIYI platform this month.
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