iQIYI Becomes the First Chinese Video Streaming Site to Support AV1 Video Codec

The new encoding format allows viewers to stream ultra-HD video using 20% less data without sacrificing quality

BEIJING,April 30,2020 -- iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or 'the "Company"),an innovative market-leading online entertainment service in China,has recently launched support for the Alliance for Open Media Video 1 (AV1) video encoding format for users on PC web browsers and Android devices,becoming the first and the only Chinese video streaming site to adopt the AV1 format to date.

The AV1 format reduces the size of video files by around 20% while maintaining the same quality. For example,watching a 1080P video typically requires 1,000 MB data,but with AV1,just 800 MB is needed. The adoption of the AV1 codec will help to improve the user streaming experience of ultra HD videos especially for 4K and 8K resolutions. Given the large size of raw video files,video encoding techniques are required to compress the files for efficient storage and transmission. AV1 is the new-generation open-source video codec designed to deliver higher quality videos on a narrower bandwidth.

AV1 was developed by Alliance for Open Media (AOM),a consortium founded by leading tech companies including Google,Facebook,Amazon,Intel,Netflix and Apple. AOM is committed to the promotion of ultra-high quality videos,data saving technologies and improved user experiences. iQIYI joined AOM in 2018,becoming the first Chinese member of the alliance. Thanks to the efforts of AOM,AV1 has won widespread support in the industry and is being rapidly deployed to deliver a greater viewing experience.

To further boost the encoding efficiency,iQIYI independently developed an AV1 standard-based QAV1 encoder that significantly mitigates computation complexity and reduces the time required for encoding. As a result,the QAV1 encoder delivers smoother streaming of AV1 videos while allowing users to realize massive savings in data usage.

As ultra HD 4K and 8K videos are poised to enter a period of explosive growth,audiences have increasingly high demands for video quality. The development of AV1 and other new-generation video encoding standards will ensure sharpness and cost-effectiveness in video streaming platforms with limited bandwidth. It will also allow users to enjoy ultra HD videos while saving more data.

As a leading online video streaming platform in China,iQIYI will continue to work with members of AOM to build open,high-quality technical standards. The Company will collaborate with industrial partners,chipmakers,mobile phone vendors to expand the deployment of AV1 to more devices and deliver premium entertainment experiences to users.

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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