iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),
an innovative market-leading online entertainment service in China and THX Ltd., a
subsidiary company owned by Razer Inc. (1337.HK) renowned for the certification of
world-class cinemas and consumer electronics, today announced that the first offline
“Yuker” on-demand movie theater in Zhongshan, Guangdong is now THX Certified.
Tao Lei, Vice President of iQIYI, and Wu Hao, General Manager of THX China will
unveil the official THX Certified Cinema plaque during the opening ceremony launch
event in Zhongshan, Guangdong on November 9. This milestone not only reinforces
iQIYI’s adherence to the company vision of “to become a technology-based
entertainment giant”, but also demonstrates iQIYI and THX as the ideal partners to
enable shopping malls to drive traffic and enhance engagement with consumers, as
part of an ongoing transformation of retail spaces into digital entertainment complexes.
THX has long been recognized as a company that sets the industry benchmark for
delivering the finest quality cinematic experiences true to the original filmmaker's intent.
THX defines standards and specifications for cinema acoustics, sound system design
and image quality – ensuring that audiences are fully immersed in the thrill of the
onscreen action. As a thought leader in the China cinema industry, THX has continually
advocated for improvements of sound and image quality with local exhibitors and the
content creation community, driving the deployment of premium experiences to the
movie goers.
“iQIYI and THX share the same vision to provide the best viewing experience to
customers,” said Tao Lei, Vice President of iQIYI. “iQIYI will take advantage of strong
brand awareness, massive user base, popular content and advanced technology to
contribute to the growth of this booming market and extend our premium viewing
experience to offline consumers. We believe that our partnership with THX will further
elevate the status of the theater and increase the strength and overall scale of China’s
film industry.”
“We are delighted to establish this significant partnership with iQIYI to bring the very
best cinema experience to viewers in China, one of the largest cinema markets in the
world,” said Min-Liang Tan, CEO of THX. “THX and iQIYI are respective technology
leaders in cinema and video streaming, and we are confident that this partnership will
help deliver superior audio and visual entertainment experiences to a broad range of
audiences in China.”
iQIYI and THX worked closely to meet THX specifications for certification, a process
that systematically measures and verifies the performance quality of commercial
cinemas against industry standards. The process includes auditorium building
structure analysis, audio and video equipment verification, and system configuration
and calibration. As a result, audiences at this theater will enjoy uncompromised audio
and video quality in an auditorium environment that fully complements the cinematic
experience.
The Yuker movie theater combines the convenience of on-demand service with the
high-quality audio-visual environment of traditional cinemas, clearly demonstrating
iQIYI’s commitment to elevating the consumer entertainment experience. Users are
free to select the time and location of viewing, as well as content from iQIYI’s online
movie library.
The launch of the Yuker movie theater has made iQIYI the first major online
entertainment platform to tap into the on-demand movie theater market, and the box
office generated by iQIYI's Yuker movie theaters will be included in China's official box
office estimation. iQIYI plans to improve the existing unregulated business model of
the on-demand cinema industry through joint efforts with all links in the industry chain.
They will work to reduce the threshold for on-demand cinemas for investors and
operators, and coordinate the standard development and rapid spread of screening
activities in on-demand cinemas, allowing copyright owners, investors, and operators
to share the benefits of industrial development in the subsequent operations of the
theater.
About iQIYI, Inc.
iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company") is an innovative market-leading
online entertainment service in China. Its corporate DNA combines creative talent
with technology, fostering an environment for continuous innovation and the
production of blockbuster content. iQIYI's platform features highly popular original
content, as well as a comprehensive library of other professionally-produced content,
partner-generated content and user-generated content. The Company distinguishes
itself in the online entertainment industry by its leading technology platform powered
by advanced AI, big data analytics and other core proprietary technologies. iQIYI
attracts a massive user base with tremendous user engagement, and has developed
a diversified monetization model including membership services, online advertising
services, content distribution, live broadcasting, online games, IP licensing, online
literature and e-commerce etc. For more information on iQIYI, please
visit http://ir.iqiyi.com.
About RAZER
Razer™ is the world’s leading lifestyle brand for gamers. The triple-headed snake
trademark of Razer is one of the most recognized logos in the global gaming and
esports communities. With a fan base that spans every continent, the company has
designed and built the world’s largest gamer-focused ecosystem of hardware, software
and services. Razer’s award-winning hardware includes high-performance gaming
peripherals, Blade gaming laptops and the acclaimed Razer Phone. Razer’s software
platform, with over 50 million users, includes Razer Synapse (an Internet of Things
platform), Razer Chroma (a proprietary RGB lighting technology system), and Razer
Cortex (a game optimizer and launcher). In services, Razer zGold is one of the world’s
largest virtual credit services for gamers. Razer Pay is the ewallet designed for youth
and millennials, and Razer Game Store is the only games download store that offers
rewards for gamers. Founded in 2005 and dual-headquartered in San Francisco and
Singapore, Razer has 15 offices worldwide and is recognized as the leading brand for
gamers in the USA, Europe and China. Razer is listed on the Hong Kong Stock
Exchange (Stock Code: 1337).
