iQIYI's 'Mysterious Lotus Casebook': A Shining Example of IP Monetization

As an avid investor in the entertainment industry, I've been keeping a close eye on iQIYI's recent success with its hit drama 'Mysterious Lotus Casebook'. This multi-city tour and immersive experience have proven that IP monetization is not just a buzzword but a viable strategy for long-term growth and sustainability. Let's dive into the numbers and explore how iQIYI has masterfully transformed this digital series into a multi-format entertainment property.



First, let's address the elephant in the room: iQIYI's multi-channel approach to IP monetization. By combining streaming, live theater, merchandise, and tourism partnerships, the company has created a self-reinforcing ecosystem that maximizes IP value and reduces dependence on pure subscription revenue. This diversification strategy has paid off handsomely, with 'Mysterious Lotus Casebook' generating RMB80 million (US$11 million) in merchandise sales across 1,300 SKUs.



Now, let's examine the key factors driving the success of 'Mysterious Lotus Casebook' in the live theater format. The stage adaptation stayed true to the beloved elements of the original series, blending traditional Chinese aesthetics with modern elements to bring iconic scenes to life. This faithful adaptation, coupled with innovative stage design and strong social media buzz, has resulted in exceptional responses during the multi-city tour. The play has trended on Weibo, with thousands of enthusiastic audience reviews, further cementing its status as a cultural phenomenon.



But what truly sets 'Mysterious Lotus Casebook' apart is its tourism partnerships. By collaborating with Suyun Thirteen Gardens and Hengdian World Studios, iQIYI has created immersive experiences that strengthen consumer emotional connection and justify premium pricing across the merchandise portfolio. These experiential marketing approaches typically yield higher customer lifetime value and brand loyalty, as seen in the success of 'Mysterious Lotus Casebook' and its tourism partnerships.

In conclusion, iQIYI's 'Mysterious Lotus Casebook' serves as a shining example of IP monetization in the entertainment industry. By embracing a multi-channel approach and leveraging the power of tourism partnerships, the company has successfully transformed a digital series into a multi-format entertainment property. As an investor, I'm eager to see how iQIYI continues to innovate and capitalize on the growing demand for immersive entertainment experiences.