iQIYI Delivers Integrated Online and Offline Entertainment Experience Through the 2019 iQIYI VIP Fan Carnival

BEIJING,July 18,2019 -- Recently,iQIYI,Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment service in China,hosted its 2019 VIP Fan Carnival (the "Event") in Shanghai. The annual event is a large-scale celebrity and fan meetup gathering held by iQIYI which combines the platform services with its offline resources bring forward the ultimate entertainment experience to its users. Held under the theme of a "summer sports carnival",the event was attended by more than 60 celebrities and 7,000 fans and was met with great acclaim as posts on Weibo made under the hashtag #iQIYIVIPFanCarnival have received 1 billion views. So far,the accumulated number of online viewers of the event has reached 10.78 million while the highest number of simultaneous online viewers of the event has reached 450 thousand. The 7,000 fans who attended the event were selected from channels including iQIYI's VIP membership base,iQIYI Paopao's userbase,iQIYI's social media platform and other partner platforms.

iQIYI Delivers Integrated Online and Offline Entertainment Experience Through the 2019

"As the main contributing force behind helping our membership number pass 100 million,users are at the core of our business," said Wang Xiaohui,President of Professional Content Business Group (PCG) andChief Content OfficerofiQIYI. "Going forward,we will continue to provide our members with the best entertainment experience available,online or offline."

iQIYI President of Professional Content Business Group (PCG) and Chief Content Officer Wang Xiaohui speaks at the 2019 iQIYI VIP Fan Carnival

As a signature event in iQIYI's 'Summer Young' events,a series of summer-themed offline events,iQIYI's annual VIP Fan Carnival has become one of the most highly anticipated summer celebrity-fan gatherings in the industry,offering users an opportunity to interact with celebrities that appear in their online viewing experience. The event acts as a medium between fans' online and offline entertainment experience,making it a key component in iQIYI's comprehensive entertainment ecosystem. Events of iQIYI's 'Summer Young' will also be held in major Chinese cities including Shenzhen,Chongqing,Chengdu and Beijing,bringing the ultimate summer entertainment experience to users across China.

iQIYI also applied innovative technology to this year's event in order to better deliver an all-rounded immersive viewing experience to both online and on-site audiences. Notably,iQIYI took advantage of the most cutting edge live streaming technologies such as spidercams and high-speed sport video cameras,which are typically used to film top-tier sport competitions in the world,to broadcast the event. In addition,the event had professional sports commentators who were able to narrate the games in real-time,offering audiences a truly immersive live-sport viewing experience.

In 2019,iQIYI plans to enhance its diverse content offering by releasing more than 100 TV dramas,over a thousand films,and over sixty variety shows. By enhancing the release of new content through hosting related offline events,iQIYI seeks to provide its users with exclusive benefits and interaction that enriches their overall entertainment experience. In 2019,iQIYI has organized several offline events including a large scale iQIYI member-only fan meetup for the hit reality talent show Qing Chun You Ni. Prior to that,iQIYI held over 10 offline celebrity meetup events in 2018 in collaboration with iQIYI's high-quality original production such as The Rap of China and iQIYI celebrity ambassadors such as renowned Chinese pop singer and actor William Chan. Through these events,iQIYI members are able to have an opportunity to connect with iQIYI productions and realize an integration between the viewing of online content and the interaction of offline events.

About iQIYI,Inc.

iQIYI,Inc. is an innovative market-leading online entertainment service inChina. 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,e-commerce,etc.

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