iQIYI's Joint Production "Balloon" Shortlisted for the 76th Venice Film Festival

BEIJING,Aug. 2,2019 --Balloon,a joint production from iQIYI Pictures,has been shortlisted in the lineup for the 76th Venice International Film Festival,which will take place from August 28 to September 7. Balloon,which will premiere at the festival,has been included in the Horizons (Orizzonti) section,the second largest competition unit of the Venice Film Festival.

iQIYI’s Joint Production “Balloon” Shortlisted for the 76th Venice Film Festival

Directed by the famous Tibetan film director Pema Tseden,Balloon reveals the tension between spirit and reality. The film continues Pema's humanitarian effort and showcases the unique charm of the Tibetan culture. This is another time that major international film festivals have recognized an iQIYI film,demonstrating the caliber of iQIYI's content production. Earlier,iQIYI Pictures' film Spycies was nominated at the Cannes International Film Festival's "Annecy Goes Cannes" unit and The Pluto Moment was shortlisted for the Cannes Film Festival's "Directors' Fortnight" section.

By focusing on young,high-quality and diversified content,iQIYI has produced a number of renowned films in recent years,such as Blue Amber,The Widowed Witch,The Summer Is Gone,The Pluto Moment,Youth and Legend of the Demon Cat,winning numerous awards in the Golden Horse Awards,Shanghai International Film Festival,Rotterdam International Festival,and many other domestic and international film events.

"This recognition of Balloon once again demonstrates our continuous output of quality content,which is the core driver of our membership growth," said Ya Ning,President of iQIYI Pictures. "iQIYI will continue to explore ways to bring innovative content to our audiences."

iQIYI Pictures is a wholly-owned subsidiary of the NASDAQ-listed online entertainment company iQIYI. iQIYI Pictures has been exploring innovations in both business model and technology since it was established 5 years ago. In May,at its 2019 World Conference,the company launched its original film plan to invest in the joint production of original films with producers,distribute the films in cinemas and share the profits with all partners. In the future,iQIYI seeks to become more deeply involved in movie production to make the process more standardized and transparent. iQIYI Pictures' IP-driven business model coupled with movie distribution and underpinned by internet technology will continue maximizing the value of its "Internet+Film" model. More original movies produced by iQIYI,including ATM,Old Boy Transplanted a Girl Heart,The Fever,Tank Brotherhood,and The Endless Date,were recently released under this project.

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,e-commerce,etc.

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