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iQIYI Expands Its Brand: Transforming Hit Shows into Theme Parks and Merchandise

In recent times, iQIYI, the prominent online entertainment platform in China, has made significant strides in its Experience Business. As announced during its Q2 2025 earnings, the company has successfully ventured beyond the digital screen, turning its hit original shows and beloved characters into captivating offline attractions and varied consumer IP products.

Leveraging Intellectual Property for Growth

To tap into this new market, iQIYI is harnessing a plethora of authorized intellectual properties (IPs) sourced from a diverse range of in-house content studios as well as external partners. This venture involves integrating popular show elements, such as cherished characters and engaging storylines, into a variety of consumer products. The offerings include collectible trading cards, extensive merchandise collaborations, immersive theatrical experiences, and innovative theme parks under the brand “iQIYI Land”.

With state-of-the-art technology systems, including proprietary Digital Rights Management (DRM) and artificial intelligence, iQIYI aims to not only protect its content but also enhance its audience's engagement.

An Insight into the Market Potential

The company's targeted approach comes at a critical time. The IP derivatives market in China is on an exponential rise, forecasted to reach RMB202.5 billion (approximately US$28.5 billion) this year, a notable increase from RMB99.4 billion (around US$14.0 billion) in 2020. This robust growth is largely propelled by consumer demands for immersive products and experiences that allow them to live within the narratives of their favorite characters.

Positioned advantageously as a premier content creator and IP holder, iQIYI is set to seize this burgeoning market. Its successful management of the product lifecycle—from conceptualization to sales—demonstrates its capacity to meet market desires.

A Closer Look at Consumer Products

One of the standout offerings from iQIYI has been its self-operated collectible trading cards, which have become a sensational hit, generating over RMB100 million (US$14.1 million) in gross merchandise value (GMV) within the first half of 2025 alone. This product line draws inspiration from popular series like “Love in Pavilion” and “Feud.” The company is now looking to branch out into additional product categories while also innovating its own sales platforms.

In addition to trading cards, the merchandise related to hit shows, such as “Mysterious Lotus Casebook,” has also seen impressive results, featuring lifestyle products ranging from phone accessories to collectible model toys. Collaborations have driven total GMV for merchandise over RMB200 million (US$28.1 million), comprising direct sales and co-branded product ventures. iQIYI is committed to augmenting its product offerings in sectors such as films, Japanese animation, and children's content moving forward.

Bringing Stories to Life: Offline Experiences

iQIYI recognizes the immense potential of offline experiences as pivotal elements in its broader strategy. Currently, the company operates more than 50 immersive theaters in approximately 30 cities across China and is ambitiously developing several “iQIYI Land” theme parks. With existing locations in Yangzhou and Kaifeng, additional sites are expected to be announced soon. These parks will offer IP-themed attractions, interactive experiences, and extensive merchandising, crafting physical destinations tailored for dedicated fans.

By bridging the gap between screen content and tangible experiences, iQIYI aims to forge deeper and more interactive connections with its audience, while also creating novel revenue streams. As these initiatives unfold, the company’s vision appears centered around evolving consumer engagement and fostering long-lasting relationships, ensuring that iQIYI resonates not just on-screen but in the lives of its fans as well.