Beijing, China (November 12, 2018) – iQIYI, Inc. (NASDAQ: IQ) (“iQIYI” or the “Company”), an innovative market-leading online entertainment service in China, and THX Ltd., a subsidiary company owned by Razer Inc. (1337.HK) renowned for the certification of world-class cinemas and consumer electronics, today announced that the first offline “Yuker” on-demand movie theater in Zhongshan, Guangdong is now THX Certified.
Tao Lei, Vice President of iQIYI, and Wu Hao, General Manager of THX China will unveil the official THX Certified Cinema plaque during the opening ceremony launch event in Zhongshan, Guangdong on November 9. This milestone not only reinforces iQIYI’s adherence to the company vision of “to become a technology-based entertainment giant”, but also demonstrates iQIYI and THX as the ideal partners to enable shopping malls to drive traffic and enhance engagement with consumers, as part of an ongoing transformation of retail spaces into digital entertainment complexes.
THX has long been recognized as a company that sets the industry benchmark for delivering the finest quality cinematic experiences true to the original filmmaker’s intent. THX defines standards and specifications for cinema acoustics, sound system design and image quality – ensuring that audiences are fully immersed in the thrill of the onscreen action. As a thought leader in the China cinema industry, THX has continually advocated for improvements of sound and image quality with local exhibitors and the content creation community, driving the deployment of premium experiences to the movie goers.
“iQIYI and THX share the same vision to provide the best viewing experience to customers,” said Tao Lei, Vice President of iQIYI. “iQIYI will take advantage of strong brand awareness, massive user base, popular content and advanced technology to contribute to the growth of this booming market and extend our premium viewing experience to offline consumers. We believe that our partnership with THX will further elevate the status of the theater and increase the strength and overall scale of China’s film industry.”
“We are delighted to establish this significant partnership with iQIYI to bring the very best cinema experience to viewers in China, one of the largest cinema markets in the world,” said Min-Liang Tan, CEO of THX. “THX and iQIYI are respective technology leaders in cinema and video streaming, and we are confident that this partnership will help deliver superior audio and visual entertainment experiences to a broad range of audiences in China.”
iQIYI and THX worked closely to meet THX specifications for certification, a process that systematically measures and verifies the performance quality of commercial cinemas against industry standards. The process includes auditorium building structure analysis, audio and video equipment verification, and system configuration and calibration. As a result, audiences at this theater will enjoy uncompromised audio and video quality in an auditorium environment that fully complements the cinematic experience.
The Yuker movie theater combines the convenience of on-demand service with the high-quality audio-visual environment of traditional cinemas, clearly demonstrating iQIYI’s commitment to elevating the consumer entertainment experience. Users are free to select the time and location of viewing, as well as content from iQIYI’s online movie library.
The launch of the Yuker movie theater has made iQIYI the first major online entertainment platform to tap into the on-demand movie theater market, and the box office generated by iQIYI’s Yuker movie theaters will be included in China’s official box office estimation. iQIYI plans to improve the existing unregulated business model of the on-demand cinema industry through joint efforts with all links in the industry chain. They will work to reduce the threshold for on-demand cinemas for investors and operators, and coordinate the standard development and rapid spread of screening activities in on-demand cinemas, allowing copyright owners, investors, and operators to share the benefits of industrial development in the subsequent operations of the theater.
About iQIYI, Inc.
iQIYI, Inc. (NASDAQ:IQ) (“iQIYI” or the “Company”) is an innovative market-leading online entertainment service in China. 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 and e-commerce etc. For more information on iQIYI, please visit http://ir.iqiyi.com.
About THX Ltd.
Founded by legendary filmmaker George Lucas in 1983, THX Ltd. and its partners provide premium entertainment experiences in the cinema, in the home and on the go. Over the past thirty-five years, THX has expanded its certification categories beyond studios and cinemas to consumer electronics, content, and automotive systems. Today, THX continues to redefine entertainment, providing exciting new technologies and assurance of experiences with superior quality and high performance. https://www.thx.com/
Razer is the world’s leading lifestyle brand for gamers. The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services. Razer’s award-winning hardware includes high-performance gaming peripherals, Blade gaming laptops and the acclaimed Razer Phone. Razer’s software platform, with over 50 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma (a proprietary RGB lighting technology system), and Razer Cortex (a game optimizer and launcher). In services, Razer zGold is one of the world’s largest virtual credit services for gamers. Razer Pay is the ewallet designed for youth and millennials, and Razer Game Store is the only games download store that offers rewards for gamers. Founded in 2005 and dual-headquartered in San Francisco and Singapore, Razer has 15 offices worldwide and is recognized as the leading brand for gamers in the USA, Europe and China. Razer is listed on the Hong Kong Stock Exchange (Stock Code: 1337).