CEO of iQIYI shares industry trends at convention

Gong Yu, the founder and CEO of iQIYI, shared insights into industry trends at the China Internet Audio & Video Convention 2024 held in Chengdu, Sichuan province, on Thursday. Gong reflected on the development of the internet audio-visual industry and shed light on the major trends and opportunities shaping its future trajectory.

First, Gong highlighted the industry's increasing focus on high-quality content as the primary driver of growth. Second, he noted the rapid advancement of generative AI, which has enhanced production efficiency and content quality. Last, Gong emphasized the burgeoning trend of integrating art and fostering cross-industry collaborations, which has paved the way for the emergence of new business models in entertainment. Notable examples include iQIYI's offline VR immersive theaters and the innovative iQIYI QiBubble Space, which have captivated audiences.

Gong also discussed emerging opportunities for industry creators. He spotlighted the diverse and evolving demands of audiences, urging creators to innovate and tailor their content accordingly. Moreover, he expressed optimism regarding the global expansion efforts of platforms, which are yielding positive results and presenting promising prospects. He also pointed out the potential disruptive impact of integrating generative AI into the industry, opening up new possibilities for innovative experiences.