Chinese “Netflix” iqiyi will open the thematic park with VR based on its shows

Beijing – Chinese video rays Iqiyi On Thursday, on Thursday, he plans to open his first full -fledged theme park in China based on characters from his own shows.

The upcoming “Iqiyi Land” must open in the city of Yanzhou in Jiangsu province, just over two hours from Shanghai, a high -speed train. The company said the thematic park will include seven types of attractions – including exciting theater, interactive films and experiences using virtual reality – mainly based on IQiyi films and television drama.

This is the latest company to argue that local consumers will spend more on experience despite Tepid retail.

Legoland opens its First resort in China Shanghai this summer, while Warner Bros. Discovery last month announced that he opened Harry Potter’s Studio in 2027. Chinese toy company Pop -Mart At the end of 2023, the thematic “Pop -Zeml” opened, which became the most popular attraction in the city’s business, the di -ping rating reports.

The planned IQIYI thematic park relies on the recent success of the company with VR-specific attractions.

The company has developed a technology that combines VR with moving platforms – creating visitors, the impression they go, go on boats or sit in the aircraft. This means that there may be such an experience similar to the thematic park compressed into space As small as an area of ​​only 57 feet in length.

Since two years ago, the first special VR IQiyi experience opened with business partners to open more than 40 seats in at least 20 Chinese cities. According to the company, one VR experience, based on “Strange Tales about the Tang Dynasty: in the West,” has acquired more than 100,000 visitors.

VR, games and artificial intelligence have made it possible to have “distributed” thematic parks, which are more compact, interactive and able to rethink more quickly, Hang Zhang, Senior Vice President IQiyi, a Chinese statement translated by CNBC.

He said that some of the VR performance would be released for the first time in the IQiyi land before they are launched in other places.

Iqiyi shares were closed almost 3% higher in the US on Thursday and still increased by 14%.

The China’s Time Park forecast exceeds $ 480 billion ($ 67 billion) this year, and more than $ 500 million, according to the International Association of Fun and Sights. This would be exponentially from 30.39 billion yuan recorded in 86 major thematic parks in mainland China in 2023, immediately after the COVID-19 pandemic controls ended.

Parks are increasingly using a combination of virtual reality to attract guests using AI tools to manage the crowds, the association notes. It adds that the parks also combine global intellectual property franchises with home stories in China.

The Association announced Wednesday that the head of Disney Parks International will perform on its Asia Expo this summer in Shanghai.

DysneWhose Disneyland in Shanghai opened in 2016, said Increasing international parks and experience by 28% compared to last year Operating income in the quarter ended on December 28, unlike the reduction by 5% in the US

PodstWhose universal Beijing studio opened in 2021, said A higher income In their international thematic parks, they compensated for a lesser visit to the guests in its fourth quarter parks.

Tourism was a rare bright place in China’s consumer market. Consumer price index, domestic demand, increased by 0.2%last year, and the tourist component increased on 3.5%.

China’s plan for raising consumption this year called specifically to develop an economy of experience. Previously IQiyi worked with a local tourist council to produce TV Drama put in the remote part of ChinaImage of visitors.

However, the competition in content remains fierce. Iqiyi reported the fall by 8% in 2024 to 29.23 billion yuan, which changed an increase of 10% in the previous year.

Time park projects may also face delays.

Legoland in the province of Sichuan Western China was Initially planned to open before 2023. When CNBC contacted Merlin Entertainments about the project, the company only emphasized the Summer Opening in Shanghai this summer.

Disclosure: Comcast is the owner of NBCuniversal, parent company CNBC.

Report: This story has been updated to reflect the correct name of the IQiyi drama “Strange Tales about the Tang Dynasty: West”. The previous version was based on the translation that was inaccurate.