iQIYI Launches "Watch Party" Feature Enabling Users to Stream Content Together Online

BEIJING,July 9,2021 -- iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment service in China,recently launched the "Watch Party" feature on its streaming platform. By synchronizing video playback among groups,Watch Party allows iQIYI usersto have the experience of watching movies,dramas,variety shows and animewith friends without having to be with them in the same room. To experience the personalized,interactive viewing experience that Watch Party provides,users simply open iQIYI's app and select "Watch with Friends" to get an invitation link,which can be shared with other users.

The Watch Party mode allows up to ten users to be in a joined session and stream the same content at a time,where they could also send each other voice messages in the chatroom to share their reactions and thoughts in real-time. While the host controls the video playback,each user has control over the volume of their own voice and that of the content. Ultimately,Watch Party enables iQIYI users to have a communal yet personalized streaming experience and thereby become even more engaged with the content.

For the younger generation,content consumption is more than just watching videos.

The popularity and success of Watch Party since its launch point to the users' desire for social interaction even while consuming content. Nowadays,content consumption is more than just watching videos. On the one hand,users are eager to interact with video content and want tailored content that meets their aesthetic. On the other hand,they also want to connect their thoughts with others,be it strangers,friends,or family. In short,even in streaming,the younger generation craves the opportunity for self-express and connection.

According to the "Report on the Development of China's Internet Audio-and-video Industry (2021)," which examined the behavior of online audiovisual content users,nearly 30% of users search for news related to the dramaseriesthey watch. The report also found that younger users with a higher level of education are more likely to make purchases and speak with their friends as they stream content.

In response to this emerging trend,Watch Party is the latest in a long line of innovative interactive features iQIYI rolled out. Previously,the rolling out of the AI radar "Qiguan" enables users to identify any unfamiliar character or music they encounter with the click of a button,and "Revolving Bullet Comments" allows viewers to further engage with the content.

As usersbecome more deeply engaged with content,they become more than just viewers,and,at the same time,iQIYIbecomes more than just a content provider. Thanks to the Company's groundbreaking technology,users can switch between different modes of content viewing and even participate in the shaping of the content by deciding how astory would unfold.

For example,at "iQIYI Shout out forLove Gala2021",online viewers were able to controla range of aspects of the show including the program order,choice of the artist,and viewing angles,etc. Viewers embraced this flexibility with great enthusiasm and took advantage of these innovative features to personalize and improve their own viewing experience. For instance,90% of users switched the screen an average of 29 times using the innovative"four-in-one" screen feature.

Another case in point was "X-City," the immersive extended reality (XR) concert heldin March of this year for the Chinese girlgroup THE9. X-City marked the first timethat cinematic class LED stagewithphotorealistic virtual productionand XR-powered live broadcast technologies werecombined for the production of a concert. To offer a more immersive experience,the event also offered other interactive elements,such as virtual seats,virtual avatars,on-site screen interaction,and virtual light sticks for real-time interaction. Going forward,iQIYI is committed to further leveraging its technical prowess to add new features that will enhance the viewing experience of its users.