On March 14, iQiyi, the leading Chinese streaming platform, revealed plans to open its inaugural theme park in Yangzhou, located in Jiangsu Province, with an expected launch by the close of 2025.
China’s theme park sector is highly competitive, with international giants such as Disney and Universal Studios competing alongside domestic heavyweights like Chimelong and Fantawild.
Beyond top-tier cities, the Jiangsu-Zhejiang area already features a number of notable projects, including Nanjing’s Jinling Town, Huaian’s Journey to the West-themed park, and Sunac’s Wuxi Ice & Snow World, many of which have been developed through collaborations between public and private entities.
This marks iQiyi’s second venture into offline entertainment. In 2023, it launched Qibabu Land, a family-friendly park in Yanqing District, Beijing, based on its own animated IP, Qibabu. The park was developed in collaboration with Qliday Production and Beijing World Garden Co.
iQiyi isn’t the only player venturing into theme parks. In 2023, Want Want Group, a prominent snack brand, revealed plans for a theme park in Changsha, while Pop Mart, a blind box brand, opened its own in Beijing’s Chaoyang Park.
For iQiyi, expanding offline serves as a way to boost IP monetization. By merging digital content with tourism and entertainment, the company aims to enhance its brand presence, increase user interaction, and create a self-sustaining ecosystem that strengthens customer loyalty and generates new revenue streams.
Diversification has also become a strategic priority. The long-form video streaming sector in China is facing mounting content expenses, slower subscriber growth, and growing pressure on advertising revenues.
In 2024, iQiyi reported annual revenues of RMB 29.23 billion (approximately USD 4.04 billion), with operating profits of RMB 2.36 billion (around USD 327 million), reflecting an 8% operating margin—its third consecutive year of profitability.
Nevertheless, in the highly competitive advertising space, the platform recognizes the need to seek alternative revenue opportunities.
Given the market’s saturation, iQiyi is proceeding cautiously with its expansion plans.
By adopting an agile, internet-driven iteration approach and prioritizing exceptional user experiences, iQiyi plans to perfect its inaugural park before considering global expansion under favorable conditions.
Written by Travel And Tour World
