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August 6, 2020

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iQiyi’s first VR flagship store opens

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.

A 30-minute VR experience costs about 158 yuan (US$22).


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