BEIJING, Nov. 14, 2020 /PRNewswire/ — iQIYI Inc. (NASDAQ: IQ) (“iQIYI” or the “Company”), an innovative market-leading online entertainment service in China, is pleased to announce that its premium video-on-demand (“PVOD” or the “Mode”) title, Spring Tide has been nominated for Best Feature Film and Best Director at the 33rd Golden Rooster awards. This is the first time a film distributed via PVOD is nominated for such a high honor. Established in 1981, The Golden Rooster Awards is the most prominent film prize in China’s Mainland. The five other nominees of Best Feature Film Award are Better Days, Leap, Sheep Without A Shepherd, Chaogtu with Sarula, and My People, My Country.
Spring Tide tells the story of women from three generations within a dysfunctional family. A reporter and single mother, Guo Jianfeng, played by Hao Lei, is caught in an emotional dilemma between her mother and daughter. The film, since its premiere, has led to heated online discussion about the concept of “family of origin”. The hashtag “Influence of the original family” has made it on the list of most trending Weibo topics with more than 20 million views.
On the nominations Spring Tide received, Yang Xianghua, President of Membership and Oversea Business Group of iQIYI, remarked, “Great films are not restricted by distribution models and the size of the screens they are shown on. We are confident that in the long run, PVOD will meet the diverse needs of audiences and form a new distribution and business model. This model awaits optimization, and we will keep on exploring its potential.”
The Mode allows users to view latest releases online at a moderate price, while also enabling film producers to obtain greater revenue by establishing more distribution channels and platforms to attract more users by providing high-quality content. Moreover, films distributed via PVOD are also able to have a broad content impact.
As the pioneer of PVOD mode in China, iQIYI has released numerous leading titles via the PVOD mode. Since this February, the Company has streamed blockbusters like Enter the Fat Dragon, Knockout, Marriage Story, Monster Run, Double World, and Dwelling in the Fuchun Mountains via the Mode. Most recently in November, iQIYI premiered Paramount’s animation, the SpongeBob Movie: Sponge on the Run, under PVOD.
About iQIYI, Inc.
iQIYI, Inc. 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.