iQIYI Premieres "The SpongeBob Movie: Sponge on the Run" via PVOD in its Ultimate Online Cinema Section

BEIJING,Nov. 10,2020 -- iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment service in China,premiered Paramount Pictures' The SpongeBob Movie: Sponge on the Run (the "Film") in its Ultimate Online Cinema section through itspremium video-on-demand (PVOD) mode,making it China's first animated blockbuster to premiere only one day after the premiere of the film in overseas regions. The Film is priced at RMB 6 for subscribers and RMB 12 for non-subscribers.

iQIYI Premieres “The SpongeBob Movie: Sponge on the Run” via PVOD in its Ultimate Online Cinema Section

The SpongeBob Movie: Sponge On The Run,follows SpongeBob SquarePants,his best friend Patrick Star and the rest of the gang from Bikini Bottom in the first-ever all CGI SpongeBob motion picture event. After SpongeBob's beloved pet snail Gary is snail-napped,he and Patrick embark on an epic adventure to The Lost City of Atlantic City to bring Gary home. As they navigate the delights and dangers on this perilous and hilarious rescue mission,SpongeBob and his pals prove there's nothing stronger than the power of friendship.

Sponge on the Run is the third film in the franchise and the first of the series that is fully 3D-animated. Maintaining an integration of live-action footage and CG elements,the new title is directed by the series developer and former writer Tim Hill,scored by Hans Zimmer and shot by cinematographer Larry Fong. Tom Kenny voices SpongeBob in the movie. iQIYI specially produced the dubbing in Mandarin for the film,done by Chen Hao,voice of SpongeBob when the animation series was first aired on China's national TV in 2006.

iQIYI is the pioneer of PVOD Mode in China,releasing numerous leading titles via the mode. Since the beginning of the year,the Company's Ultimate Online Cinema section has streamed hit action movies like Enter the Fat Dragon and Knockout,art-house movies such as Spring Tide,Marriage Story,Dwelling in the Fuchun Mountains,and the Chinese action blockbuster movie Double World.

Going forward,iQIYI's Ultimate Online Cinema section will keep streaming a slate of homemade and foreign films,across a range of genres,providing premium new offerings for users.

The Company's 4K,Dolby Vision HDR,Dolby Atmos,iQIYI HDR,"Zhen Qi Ying Hua" (a mix of 4K MAX,ultra-high frame rate,HDR,and Dolby Atmos) and other imaging technologies will enable remarkable picture quality,delivering the ultimate viewing experiences to audience at home.

The SpongeBob Movie: Sponge On The Runis available on iQIYI through a content licensing agreement with ViacomCBS Global Distribution Group.

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 and e-commerce.

About ViacomCBS Global Distribution Group

ViacomCBS Global Distribution Group is the leading distributor of premium content across multiple media platforms throughout the global marketplace. The division's portfolio is comprised of some of the world's most recognized brands,including feature films and television programs from Paramount Pictures,Paramount Television,Paramount Players,Paramount Animation,CBS Television Studios,CBS Television Distribution,CBS News,SHOWTIME Networks and Viacom brands. The division also has the largest distributed library of series and film titles,including global franchises such as "CSI: Crime Scene Investigation," "NCIS," "Star Trek," "SpongeBob SquarePants," "Transformers," "Mission: Impossible," and more. In addition,the division licenses a diverse lineup of scripted and unscripted formats for local production and participates in international co-productions. ViacomCBS Global Distribution Group is a division of ViacomCBS Inc.