iQIYI Launches "Mist Theater", New Content Library Dedicated to Suspense Dramas

BEIJING,May 20,2020 -- iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),the innovative market-leading online entertainment service in China,announced the upcoming launch of the Mist Theater (the "Theater") on its platform,a new content library dedicated to suspense dramas. The Theater,an upgrade of iQIYI's suspense drama offerings following the success of its Mystery & Suspense Theater that was launched in 2018,will focus on suspense-themed content,including a number of short drama series. The launch aims to enhance users' viewing experience through curating a targeted content selection and offering a brand-new theater operating mode.

iQIYI Launches “Mist Theater”,New Content Library Dedicated to Suspense Dramas

As short suspense dramas,most notably led by Detective Chinatown,have embraced a new wave of enthusiasm entering 2020,iQIYI gained valuable insights into users' growing demand for high-quality short suspense dramas. Through the Theater,the Company will stream dozens of short suspense dramas,serving as a platform of choice for fans of the genre.

iQIYI,the first video platform in China to kickstart brand operations for online drama series,launched China's first online drama theater-- Youth Theater at the iQIYI World Conference in May 2018. This helped create a dedicated community for young viewers with diversified content as well as a variety of groundbreaking interactive features. The online drama theater oversaw the release of dramas including With You,My Huckleberry Friends and Legend of Yun Xi on iQIYI's Youth Theater,which not only catered to the different needs of viewers,but also set an example for the entertainment industry for the operations of refined online dramas,thus consolidating iQIYI's position as the platform for "the best teen dramas".

In the same year,iQIYI released Mystery & Suspense Theater and Hero Theater for various other genres of dramas,providing an extensive range of quality content for better viewing experiences and making it the go-to streaming platform for teens.

Through creating dedicated drama libraries,iQIYI continuously meets fans' evolving and specific needs,making it the go-to platform for enthusiasts to find their favorite genre. Once the Theater is launched,iQIYI will periodically upgrade it to ensure suspense drama fans can continuously enjoy new thrilling,high-quality content by improving the platform's theater mode.

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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