iQIYI Bets on Immersive Theme Parks to Extend IP Value
Event summary
- iQIYI opened its first global offline theme park, iQIYI LAND, in Yangzhou, China, on February 8, 2026.
- The 10,000 square meter indoor park features seven zones integrating VR, AI, and live performances based on iQIYI’s original IP.
- The company plans to open additional parks in Kaifeng and Beijing, blending local culture with its storytelling.
- CEO Yu Gong stated the park aims to deepen fan engagement and extend IP lifecycles beyond streaming.
The big picture
iQIYI’s move into physical theme parks represents a significant diversification strategy, attempting to capitalize on the resurgence of offline entertainment and extract greater value from its extensive library of original IP. This initiative signals a broader trend among Chinese tech giants to explore new revenue streams beyond their core digital businesses, particularly as regulatory headwinds impact traditional online models. The success of iQIYI LAND will be a test case for other streaming platforms considering similar ventures.
What we're watching
- Financial Performance
- The park's profitability will be crucial, as iQIYI's core streaming business faces ongoing competitive pressures and regulatory scrutiny; initial attendance figures and per-visitor spend will be key indicators.
- IP Scalability
- The success of iQIYI LAND hinges on the breadth and appeal of its IP; the company must demonstrate its ability to consistently generate content suitable for immersive experiences beyond its initial offerings.
- Competitive Landscape
- Other Chinese streaming platforms may attempt to replicate iQIYI’s model, potentially creating a crowded market for immersive entertainment experiences and eroding iQIYI’s first-mover advantage.
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