iQIYI Looks to Ramp Up Originals Slate

SINGAPORE: Baidu-owned Chinese streaming platform iQIYI plans to produce 30 or more original series in 2015, setting aside a 50 million RMB ($8.1 million) production budget, chief content officer Ma Dong told World Screen at Asia TV Forum in Singapore today.

Dong delivered a keynote address at ATF’s pre-market conference this morning. During his session he discussed the consolidation in China’s video streaming market, which includes Baidu’s acquisition of PPS in 2013. PPS and iQIYI now operate as separate brands under Baidu ownership, but they have consolidated their back-end, management, sales and content systems.

iQIYI, reaching some 100 million viewers a day, mainly targets viewers in their 20s and early 30s with its acquired and original slate. By the end of the year the platform will have produced about 13 online programs; it is looking to more than double that to 30 or more in 2015. To enable that effort, the platform has aligned with numerous production companies in China, Dong told World Screen following his session. The company has also set aside a considerable budget for Hollywood feature films. Dong has his eye on a diverse array of titles. “Blockbuster or independent is not the main concern,” Dong says on what he’s looking to buy, “as long as they target the younger generation.”

He is also open to format acquisitions, but they have to be titles that can be easily adaptable to Chinese tastes.

In China’s competitive video streaming landscape, Dong believes that iQIYI benefits greatly from Baidu’s ownership stake in the platform, as well as its own data analysis capabilities that allow it to understand what its viewers are looking for.

Looking ahead, he expects to see continued gains in smartphone and tablet viewing, and he anticipates further consolidation in China’s streaming market.