Recently, an app called "iQIYI Instant Version" (爱奇艺随刻版) has quietly launched by the Chinese streaming-video platform in Xiaomi, Samsung and other app stores.
The App may be the embryonic form of iQIYI CEO Gong Yu's fourth-quarter 2019 earnings call, which mentioned that the new model of the YouTube-like product "Instant Moment" is undergoing internal testing.
According to the existing product introduction in the app store, this app focuses on the two aspects of "speedy personalized experience" and "massive video".
In addition to its full-length movies from iQIYI, it also covers short videos of many different types and themes.
At present, there are more than 2,000 types available for users to subscribe in the "channel" page of the product, and many well-known bloggers have also settled in, and they have the initial YouTube prototype.
Some of these videos are equipped with 360-degree rotating playback technology. During the viewing process, users can focus on a certain protagonist in the video and realize a 360-degree detail viewing experience.
Judging from the current competitive situation, the short video or small video market is still dominated by vibrato and fast players, but Bilibili and Xigua video, which are mainly medium and long videos, are also spontaneously launching short videos. The tag battle has begun.
Whether iQIYI can take advantage of the long video content and technological advantages and later take the lead in making this new app a "Chinese version of YouTube" and rewrite the current market structure remains to be seen.
On February 28, iQIYI announced its unaudited financial report for the fourth quarter and the year ended December 31, 2019. In the earnings call, Gong Yu mentioned that as the deployment of 5G and AI technology continues to strengthen, the market for YouTube-like apps will grow significantly in the next 2-3 years.