Gong Yu, founder and CEO of iQiyi: Online video will usher in a new dawn in 2017

Gong Yu, founder and CEO of iQiyi, discussed the topic of "Maturity and Development of the Video Industry" and said that "Online video will usher in a new dawn in the year, which means that video websites will have greater development space and imagination."

On September 20, the 2016 Shanghai Online Audiovisual Season and the 8th China Online Audiovisual Industry Forum were held in Shanghai. Gong Yu, founder and CEO of iQiyi, Zhang Wei, director and president of Oriental Pearl, Sun Zhonghuai, vice president and CEO of Tencent, and other domestic mainstream video and media industry celebrities were all present. At the opening ceremony, Gong Yu, founder and CEO of iQiyi, discussed the topic of "Maturity and Development of the Video Industry" and said that "Online video will usher in a new dawn in the year, which means that video websites will also There will be greater room for development and imagination."

The rise of original content and increased market concentration jointly promote the maturity of the online video industry.

Gong Yu believes that under the combined effect of the rise of original content and increased market concentration, the rudiment of maturity of video websites has already emerged. In recent years, with the development of the online video industry and technology, original content has achieved breakthroughs from quantitative change to qualitative change. Video websites have also transformed from content playback platforms to original content output platforms. The online video industry has gradually matured. At present, online dramas are growing at a rate of seven times year-on-year. In the future, specific content such as Internet Da, Internet Comprehensive, and Internet Drama will not only be an abbreviation, but may become professional terms, Gong Yu said. At the same time, the growth of vertical professional websites such as secondary websites and live broadcast websites has also promoted the continuous maturity of video websites.

According to data from multiple third-parties, the PC and mobile terminals of the top three video websites in the industry account for 70%-90% of the market share in terms of duration, user coverage and paid revenue. The market concentration of comprehensive video websites continues to increase. This means that the free competitive market has entered a post-competitive era dominated by competition from different sectors. Among them, regarding the payment model, Gong Yu revealed that the revenue from the payment model this year is several times that of last year. The core factor lies in the public's awareness of intellectual property rights. The scale and ecology of the payment model are more conducive to the fairness of the business model and easier to promote rich output and quality improvement in the form and type of work.

Good stories are still the core of content and continue to create an industry environment of sunshine, youth, and positive energy.

At present, in the process of self-production of content, the video industry still uses IP, CP, big card, etc. as the main targets, and rarely improves the quality of works from the inside. In this regard, Gong Yu emphasized that "a good story is still the core value." In terms of script polishing, actor expression, stage beauty, lighting, etc., creators must carry forward the spirit of craftsmanship. It said that for video websites, especially new media, there is more room for innovation in cultivating new actors, new directors, and new creators. If we cannot make full use of these innovation spaces, we will blindly pursue the big card company like the traditional film and television industry., we are actually giving up the opportunity.

The overall environmental trend of the online video industry is improving, but the industry environment still needs to be purified. Since 2010, video websites have continued to develop in the direction of genuine and high-definition, purchasing copyrights and providing video services to users have jointly promoted the development of intellectual property protection in China. However, piracy still exists, and new forms of piracy such as chain theft, cloud disk sharing, and regional time slots, as well as data problems emerge one after another. In this regard, video websites should use more new technical means to defend against such problems, and at the same time advocate self-discipline among the industry and producers, purify the video industry environment, and create a better environment for their own development.

At the scene, Gong Yu shared,"Video websites, as new media, shoulder social responsibilities. From the perspective of originality, innovation orientation is very important, and we must continue to promote mainstream values, especially the values of sunshine, youth, and positive energy." For original content, iQiyi also always adheres to the content themes of youth, sunshine, positive energy, and caring, and uses good stories to incubate more phenomenal works. Among video consumer users, mainly young users, iQiyi has undoubtedly submitted a satisfactory answer to the video industry and developed valuable film and television works that users like.

Editor: yvonne