Chinese language streaming big iQiyi has hailed the mixing of synthetic intelligence into its growth and pitching processes.
Owned by Chinese language know-how conglomerate Baidu, iQiyi has been well-positioned to rapidly incorporate AI into a number of key areas of growth and manufacturing.
The platform’s Chief Content material Officer, Wang Xiaohui, informed delegates on the Singapore’s Asia TV Discussion board & Market (ATF) immediately that AI integration has introduced startling efficiencies to its content material groups and allowed for immediate responses to producer pitches.
Within the growth section, iQiyi makes use of AI to digest massive quantities of textual content from shortlisted novels and books to provide summaries. “We will flip 2,000,000 phrases in a novel into an 8,000-word doc that outlines the plot and consists of character analyses,” stated Wang.
This has shortened iQiyi’s pitch and suggestions course of from 3-4 days when carried out by people to only one hour with AI. The summaries generated by AI have an accuracy of 90%, added Wang.
Additional down the manufacturing pipeline, iQiyi has used AI to develop character art work and scene designs, in addition to poster mock-ups to help its publicity efforts.
Using AI has been a significant speaking level in movie and TV circles this yr, with the difficulty being a significant sticking level within the actors and writers strikes. Many producers have been experimenting with the medium, whereas studios, networks and different congloms thus far primarily sought to make use of it for enterprise efficiencies.
Away from AI, Wang stated iQiyi has shifted its priorities towards making high-quality premium content material, after acknowledging that the streamer was making an attempt to enhance its quality-to-price ratio. “Sooner or later, whether or not it’s membership income or promoting income, they’re undoubtedly going to return from premium content material,” he stated.
Over the past 5 years, iQiyi has launched greater than 100 originals, together with 60 titles in 2023.
Wang additionally expressed a need to provide extra costume and historic dramas for the platform, tapping into China’s wealthy historical past and offering a novel, differentiated product for iQiyi’s viewers. “China’s 5,000 years of tradition can present an limitless treasure trove of tales,” stated Wang. “Our Chinese language market has additionally cultivated its personal energy of creation.”
iQiyi lately posted RMB8 billion ($1.1 billion) in complete revenues and working earnings of RMB746.7 million ($102.4 million) for the third quarter of 2023.
Pan-Asian Partnership
Elsewhere at ATF immediately, Thailand‘s Mono Streaming unveiled a Memorandum of Understanding with KT Studio Genie, the content material manufacturing subsidiary of Korean telecom big KT.
The pan-Asian partnership will give attention to content material creation and distribution. The companions say it alerts a recognition of Korean content material’s world delicate energy and the will for Mono Streaming to look past native shores to develop unique content material.
“We wish to work on initiatives that present the delicate energy of Thailand and Korea collectively, and with every other companions, to get to the subsequent stage,” stated Sirachairat. “Thailand already has a number of well-known points, like Thai meals, Thai actors and Thai sports activities.”
Studio Genie’s CEO Kim Chul-yeon was current on stage alongside Mono Subsequent’s CEO Patompong Sirachairat in the course of the announcement. The Korean studio’s largest title thus far is Extraordinary Legal professional Woo, which broke viewership rankings domestically on the ENA community and was a success on Netflix.
Past the MOU, Sirachairat informed delegates that Mono Subsequent is seen in Thailand because the “new child on the block.” Whereas the service began out providing 100% acquired content material, Sirachairat outlined the corporate’s ambition to have not less than 30% unique content material and launch 15-24 unique titles per yr.
A key viewers demographic for Mono Subsequent is the 35+ age bracket. which has pushed the corporate to supply dubbing in Thai for 100% of its exhibits and supply bundling choices with native telcos. The corporate additionally owns MONO29, a 24-hour home channel.
