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iQIYI leads agile, IP-and tech-powered offline experience with plan for second theme park in China

1. iQIYI announces second theme park, iQIYI LAND, in Kaifeng, China. 2. The park aims to enhance user engagement through innovative technology and interactive experiences. 3. Market demand for China's theme parks is projected to exceed RMB 110 billion by 2028. 4. iQIYI's agile model reduces traditional capital investments while improving operational efficiency. 5. The project is poised to strengthen iQIYI's brand and expand its IP footprint.

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Why Bullish?

The expansion into theme parks represents a significant growth potential for iQIYI. Historical precedents show that strong IP engagement can lead to increased revenue streams.

How important is it?

The article highlights a strategic move in a high-growth sector, likely benefiting iQIYI's future valuations. The integration of technology and immersive experiences indicates forward-thinking innovation.

Why Long Term?

Theme park developments typically take years to fully realize ROI. Long-term engagement and brand loyalty will be built through these experiences over time.

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, /PRNewswire/ -- On Apr. 18, iQIYI, China's leading online entertainment platform, announced the groundbreaking of its second comprehensive theme park, iQIYI LAND, in Kaifeng, Henan Province, Central China. This milestone follows last month's unveiling of iQIYI's plans for its first comprehensive theme park in Yangzhou, Jiangsu Province in East China, marking another step in the company's strategy to extend its premium IP into the offline realm. It also showcases an innovative model that combines operational agility with enhanced interactivity powered by cutting-edge technologies. Groundbreaking Ceremony for iQIYI LAND in Henan Province "Through online-offline integration, viewers engage more deeply with the content, transforming from 'audience' to 'experiencer' and even 'co-creator,'" said Yu GONG, founder and CEO of iQIYI, at the launch ceremony. He added, "iQIYI is developing a comprehensive digital entertainment solution that encompasses everything from online content to offline experiences and from virtual interactions to real-life engagement. These technological advancements and innovations will lay a strong foundation for the Kaifeng project." The upcoming iQIYI LAND in Kaifeng will feature seven core entertainment sectors introduced in the Yangzhou project, including immersive theater, holographic light spaces, interactive performance theaters, film set interaction areas, NPC (non-player character) experiences, MR (mixed reality) experiences, and other offline activities. The new park will also introduce IP-themed exhibition areas designed to deepen audience engagement and enrich the visitor experience. Unlike traditional theme parks that require capital-intensive infrastructure, heavy upfront investment, and extended return cycles, iQIYI is pioneering a more agile and technology-driven model. By leveraging proprietary game engines, virtual reality (VR), and artificial intelligence (AI), the company delivers frequent content updates and more immersive engagement. This approach also addresses common industry challenges such as IP depreciation, high costs associated with live performers and limited interactive content capabilities."Since 2017, we've been exploring immersive offline storytelling experiences while building a strong portfolio of sustainable, original Chinese IPs," said Hang ZHANG, Senior Vice President of iQIYI. "We're committed to driving content innovation and improving operational efficiency to create long-term value for both users and the industry." He added that bringing popular IPs into the physical world helps deepen fans' emotional connections with the content.Currently, the immersive theater experiences have been rolled out across more than 20 cities and 40 locations nationwide and will become a core attraction at iQIYI LAND in the future.This strategic direction aligns with the growing demand in China's theme park sector, which, according to data from China Insights Consultancy, reached RMB 60 billion (USD 8.2 billion) in 2023 and is projected to exceed RMB 110 billion (USD 15 billion) by 2028.As with the earlier Yangzhou project, iQIYI continues to prioritize culturally rich cities with strong accessibility and market potential. Located in Central China's Henan Province, Kaifeng is one of China's eight ancient capitals and offers excellent transportation connectivity, including high-speed rail lines that connect to Zhengzhou, with a population of 13 million, in just 30 minutes and to Luoyang, with a population of 7 million, in approximately one hour.The 960 Cultural and Creative Park, the future site of the theme park, is located near Longting Lake Park, a well-known cultural and leisure destination.CONTACT: iQIYI Press, [email protected]SOURCE iQIYI WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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