iQIYI Launches Industry's First "Bullet Subtitle" Reply Feature, Bullet Subtitle Volume Increases by 99.8% YoY in This Summer

BEIJING,Sept. 27,2019 -- iQIYI,Inc. (NASDAQ: IQ) ("iQIYI"or the "Company"),an innovative market-leading online entertainment service in China,introduced a reply function to its online video "bullet subtitles"feature (the "Feature") in August this year,making iQIYI the first video platform in the industry to have an inter-user communication function to bullet subtitles. Since its launch,the reply function has been welcomed by lots of viewers,boosting the overall popularity of the Feature,as iQIYI saw a 99.8% year-over-year increase in the volume of bullet subtitles on its platform from July to August this year.

"Bullet subtitles",known as Danmu in Chinese,refer to viewers'real-time commentary subtitles that zip across the screen like bullets. With its surging popularity,bullet subtitles have become an important channel for viewers to interact with video content on Chinese multimedia platforms. Having been adopted by most online platforms in China,the Feature allows viewers to participate in discussion about the content simultaneously,adding interactive components for users'viewing experience. According to a report released by www.yunhe.cn,the number of bullet subtitles posted for new drama series released on the streaming platforms in the summer of 2019 reached 220 million,representing a 66% year-over-year increase.

According to the data from iQIYI,50% of the Feature's users are under 24,which helps iQIYI discover younger generations'growing demand for bullet-subtitle-related features and diversified interactive methods. iQIYI's online video platform garnered over 1 million bullet subtitle replies a month after the Feature's reply function was launched.

The success of bullet subtitles on iQIYI's platform is highly correlated to the content,as the trending content can generate discussion and spur the volume of bullet subtitles. During the summer of 2019,iQIYI released drama series including A Little Reunion,Arsenal Military Academy,and Love and Destiny,as well as hit variety shows including The Rap of China 2019,Mr. Housework and The Big Band. By complementing iQIYI's strong understanding of users with its ability to produce high-quality content,iQIYI is able to boost interaction between users and content and increase the user stickiness on its platform.

About iQIYI,Inc.

iQIYI,Inc. 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.

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