iQIYI announces the groundbreaking of its first comprehensive theme park, leveraging IP-driven offline experiences to boost growth

Core Insights - iQIYI is set to develop its first comprehensive theme park, iQIYI LAND, in Yangzhou, Jiangsu Province, focusing on its film and drama IPs to create immersive experiences for visitors [1][2] - The park will feature seven unique entertainment sectors, including immersive theater and interactive performance areas, aimed at boosting local tourism and community engagement [2][4] - The strategic location in Yangzhou is part of a broader initiative to revitalize the Grand Canal Cultural Belt, enhancing the area's appeal as a cultural landmark [5][4] Company Strategy - The development of iQIYI LAND represents a significant milestone in the company's offline experience business strategy, integrating technology with its IP portfolio to create immersive entertainment [3][6] - iQIYI has a proven track record in offline entertainment, having successfully operated immersive theaters in over 20 cities in China, attracting substantial visitor numbers [6][8] - The synergy between offline experiences and online content engagement is evident, with a 206% increase in visitor numbers for immersive theater experiences following the Chinese New Year holiday [8] Market Positioning - iQIYI LAND is strategically located within a couple of hours' drive from major cities like Shanghai, Nanjing, and Suzhou, ensuring accessibility for both domestic and international visitors [4][5] - The park will also include themed dining options and IP merchandise, catering to diverse visitor interests and enhancing the overall experience [2][6] - The company aims to deepen family engagement with its content through immersive experiences, as demonstrated by the success of its first parent-child theme park, iQIYI QiBubble Space [7]