China’s Netflix, iQiyi, is making one of the biggest bets in streaming history. The company wants AI to create the bulk of its films and shows someday soon, and it’s already restructuring its 16-year-old business to make that happen.
At its annual content showcase in Beijing, founder and CEO Gong Yu announced that iQiyi is pivoting its popular streaming platform into a social media destination built around AI-generated content.
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Alongside the announcement, the company debuted Nadou Pro, an AI tool, which, according to the company, is capable of handling almost every aspect of filmmaking, from scriptwriting and storyboards to the final video delivery.
Can AI actually save a struggling streaming giant?
According to Bloomberg, IQiyi has been bleeding revenue for years, thanks to the explosion of short-form video platforms like Douyin eating into its audience. Its revenue is expected to drop 13% in the first
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