Headlines from China: Nasdaq-listed iQiyi’s Q2 Total Earnings Reach $932.5 M

Nasdaq-listed iQiyi’s Q2 Total Earnings Reach $932.5 M

On August 1, iQiyi (NASDAQ: IQ) released the company’s unaudited financial report for Q2. The report shows that iQiyi’s Q2 total revenue rose 51% year over year to 6.2 billion yuan ($932.5 million). The company remains unprofitable with a loss of 1.3 billion yuan ($200.7 million) during the reporting period. In addition, its registered members reached 67.1 million and its paying members reached 66.2 million by the end of the quarter. As several hit shows are being released on iQiyi this summer, the company expects its Q3 revenue to fall between 6.7 billion yuan ($985.3 million) and 6.98 billion yuan ($1.03 billion). Read more on dusheme

Salman Khan’s Sultan Set For August 31 China Release

It is announced today that Indian action movie Sultan, starring Salman Khan and Anushka Sharma, will be released in China on August 31. It is the sixth Indian movie released in China this year. Previous Indian releases include Secret Superstar, Bajrangi Bhaijaan, Hindi Medium, Toilet: A Love Story, and Baahubali 2: The Conclusion, among which Secret Superstar tops the box office charts with RMB 747 M. Sultan tells the story of a small-town boy from north India, who falls in love with his wrestling coach’s daughter and thus resolves to become a wrestling champion. Along with the announcement of release date, an official poster and trailer of the film were also released. Read more on Mtime

Recommended ReadingA Tale of Two Millennials: India and ChinaBy Jing Daily

Why Comedy Films Can Dominate China Box Office?

Two recent local films, Dying to Survive and Hello Mr. Billionaire, continue to demonstrate the popularity of comedy films in the Chinese market. This article takes a look at the reasons why comedy films can dominate the box office and why an increasing number of comedy films are produced in China. First, in comparison with genres such as romance, science-fiction and thriller, comedy has the potential to perform well at any given cinematic season and attract a broader audience. Secondly, local comedy films have a better chance to perform better than foreign comedy films, as jokes with local cultural specificity work better. Third, it usually requires less time and financial investment to produce a comedy than an action or science-fiction film. Last but not least, comedy films are darlings of various brands as integrating a brand into a joke can sometimes work magic and make a brand name go viral. red more on ireseach.cn