Core Viewpoint - iQIYI has introduced a revenue-sharing model for theatrical films that allows for monetization based on user viewing time, aiming to address the challenges faced by films that do not achieve strong box office sales or secure licensing deals with streaming platforms [1][2][3] Group 1: Revenue-Sharing Model - The new revenue-sharing model allows theatrical films released within 90 days to monetize based on user viewing time rather than relying solely on upfront licensing fees [2][4] - The revenue-sharing rates are tiered based on viewing hours: 1 RMB/hour for under 2 million hours, 2 RMB/hour for 2-6 million hours, and 3 RMB/hour for over 6 million hours [2] - This model is expected to provide more monetization options for mid-tier and low-tier films, potentially transforming how these films generate revenue [3][4] Group 2: Industry Context - The film industry has been facing a "cold winter," with a growing focus on blockbuster films, leading to a lack of opportunities for mid-tier films [7][8] - The revenue-sharing model is seen as a way to revitalize the distribution of mid-tier films, which often struggle to gain visibility and revenue in a market dominated by high-profile releases [8][9] - Observers note that while the model may benefit lower-tier films, its impact on blockbuster films may be limited, as these films typically prioritize theatrical releases [7][9] Group 3: Future Implications - The shift towards a revenue-sharing model may lead to a diversification of film content, encouraging the production of a wider variety of films beyond just blockbusters [9] - Changes in viewing habits, with more consumers watching films on personal devices, may further blur the lines between theatrical and online films, prompting a shift in production strategies [9] - The success of this model could influence industry confidence and the future landscape of film distribution, with potential long-term effects on both creators and investors [8][9]