iQIYI Named Digital Media Innovator of the Year, Winning Four Prizes at 2021 Digital Media Innovation Awards

BEIJING,April 22,2021 --iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment service in China,is pleased to announce that it has won four prizes at Digital Media Awards China 2021. Commenting on iQIYI's achievement,the organizing committee of the Digital Media Awards China 2021 said that the Company is an industry-leading innovator in technology-enabled content creation grounded in premium original content,providing its young users with diverse entertainment and viewing experiences while creating a forward-looking marketing model.

iQIYI Named Digital Media Innovator of the Year,Winning Four Prizes at 2021 Digital Media Innovation Awards

iQIYI was awarded the Digital Media Innovator of the Year and Best Digital Marketing Team Awards as well as Bronze Awards for Best Use of Integration and Education. The winners were announced on 16 April 2021.

Organized by leading marketing publicationCampaign Asia-Pacific,Digital Media Awards China 2021 celebrates the best digital marketing work,innovation and talent from across Greater China. Participants and entries this year hailed from world-renowned companies including Huawei,Google,Coca-Cola,BBDO,Ogilvy and GroupM.

With 2020 having been a trying year,the judges this year focused on the creative and strategic ways that companies leveraged media to gain insights into consumers,reach target audiences and impact consumers' behavior.

iQIYI won Digital Media Innovator of the Year due to its wide-ranging and effective use of digital technology across its business. The Company continues to build a young,vibrant brand identity,creating diverse viewing experiences based on rich content and cutting-edge technology to meet young people's need for personalized entertainment.

On the consumer side,iQIYI has established the wildly popular FOURTRY brand through the variety show of the same name and expanded its presence in the offline immersive virtual reality experience industry,allowing users to experience instead of just viewing. On the marketing side,the Company has successfully helped brands form deep connections with its users through diversified advertising campaigns that create long-term value for brands despite the ongoing economic uncertainty.

iQIYI's Marketing Department picked up the Best Digital Marketing Team Award. Through the team's ability to create trending topics that went viral around specific topics,the Company's content has been able to achieve phenomenal popularity. The team's unique marketing approach,which combines technology,content,and values,fueled heated debates among users throughout the year while empowering iQIYI's clients to improve brand awareness and drive business results.

Bronze Award for Education for a campaign called 'The master behind a working mom's life issues' in which Zuoyebang,a Chinese online education app,used targeted advertising by sponsoring one of iQIYI's most popularvariety show calledMR. HOUSEWORK. With approximately 60% of viewers beingwomen that are married with children,Zuoyebang effectively improved its brand awareness and affinity among target audience.

The Company won the Bronze Best Use of Integration Award for its 'iQIYI movies on the cloud' campaign. By working with key opinion leaders in the movie industry,iQIYI streamed movies with accompanying services such as movie critics and review that allowed viewers to engage with the content and make friends with like-minded fans. The campaign highlighted iQIYI's enduring commitment to delivering effective solutions to partners and users via its technology,content and marketing capabilities.

With a focus on innovation and a desire to drive the development of online entertainment through the deep integration of technology and content,iQIYI recently became the world's first company to deliver an extended reality (XR) live concert on cinematic class LED stage with photorealistic virtual production. The show,which was titled "X-City",featured THE9,a Chinese girl group formed by the top nine members of season two of iQIYI's hit reality talent showYouth with You."X-City" was an audio-visual XR feast that gave viewers a futuristic engagement and interaction experience. Going forward,iQIYI will continue to leverage state-of-the-art technology to create cutting edge content and experiences for users while also providing its partners with more targeted and effective marketing services.