China’s ‘Netflix’ iQiyi to open theme park with VR based on its shows

Chinese video streaming giant iQiyi has exciting news for theme park enthusiasts – the company has announced plans to open its first full-fledged theme park in China later this year. The theme park, named “iQiyi Land,” will be located in Yangzhou, Jiangsu province, just a short high-speed train ride away from Shanghai.

iQiyi Land will offer visitors a unique experience with seven different types of attractions, including immersive theater, interactive film sets, and virtual reality experiences based on characters from iQiyi’s popular films and television dramas. This move by iQiyi reflects a growing trend among companies to capitalize on the experience economy, where consumers are willing to spend more on experiences rather than physical products.

The theme park industry in China is booming, with mainland China’s theme park revenue projected to exceed 480 billion yuan ($67 billion) this year, attracting over 500 million visitors. This growth is driven by a combination of virtual reality technology, artificial intelligence tools for crowd management, and a mix of global and domestic intellectual property franchises.

iQiyi’s success with VR-specific attractions has paved the way for the development of iQiyi Land. The company has implemented cutting-edge technology that combines VR headsets with moving platforms, creating an immersive experience in a compact space. This technology has been well-received, with over 40 locations opened in at least 20 Chinese cities.

Hang Zhang, senior vice president at iQiyi, highlighted the potential of VR, gaming, and artificial intelligence in shaping the future of theme parks. He mentioned that some of the VR-based experiences at iQiyi Land will be exclusive to the theme park before being rolled out to other venues.

As iQiyi prepares to open its theme park, other major players in the industry, such as Legoland and Warner Bros. Discovery, are also expanding their presence in China. With the theme park market showing promising growth post-Covid, iQiyi’s entry into this space is a strategic move to tap into the growing demand for immersive entertainment experiences.

In a competitive landscape where content remains king, iQiyi’s foray into the theme park industry signals its commitment to diversifying its offerings and engaging consumers in innovative ways. With iQiyi Land set to open its doors later this year, theme park enthusiasts in China can look forward to a new and exciting destination that seamlessly blends the magic of iQiyi’s entertainment with the thrill of theme park attractions.