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August 6, 2020

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iQiyi’s first VR flagship store opens

By Zhu Shenshen | 00:00 UTC+8 August 6, 2020 | Print Edition

ONLINE video platform iQiyi has launched its first offline virtual reality flagship store in Shang­hai and will open others across the country as the Nasdaq-list­ed firm expands into the virtual reality entertainment sector.

Global revenue from the of­fline VR entertainment market is expected to hit US$11.8 bil­lion this year, triple that of last year, says researcher Greenlight Insights.

IQiyi, the world’s leading on­line movie and video streaming website, says it will open two new stores a month at first, ris­ing to 10 a month depending on the COVID-19 pandemic.

Future Empire, the Shanghai store, is in a shopping center in Huangpu District.

A30-minute VR experience costs about 158 yuan (US$22).

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