Recently, a visit was made to the virtual production set of iQiyi's original series "The Phantom Catcher" at Hengdian Studio's No. 13 soundstage.

Spanning 2,500 square meters, this virtual production facility is among China's most advanced. The setup features a circular shooting area surrounded by over 500 square meters of LED screens. Three synchronized cameras operate under a precise tracking system, while lighting dynamically interacts with virtual scenes to create realistic effects. Directors and cinematographers can control every detail from a central console like "playing god."

This is iQiyi's IQStage platform—a "dream factory" redefining filmmaking workflows. As one of China's earliest adopters of virtual production technology, iQiyi began with its 2020 "City of Reality & Virtuality" concert and has since applied the technique to series like "Fox Spirit Matchmaker," "The Shadow," and "Back to the Dream."

Zhu Liang, iQiyi's VP and head of intelligent production, clarified common misconceptions: "Many think virtual production is just about cutting costs. That's reductive. If saving money were the goal, not filming would be the best option."

Zhu emphasized the technology's true value lies in expanding creative possibilities, improving efficiency, shortening production cycles, and aligning content with contemporary audience tastes—ultimately raising revenue potential. "We aim for growth, not just internal competition," he noted.

To democratize access, iQiyi slashed prices for its upgraded virtual production system in June. Depending on project fit, full hardware/software packages (excluding digital scene creation) now start at just ¥35,000 per day.

While the price drop—dubbed a "floor-level cut"—has boosted mid-tier project participation, Zhu stressed it's a catalyst, not a deciding factor. More productions now leverage virtual techniques to achieve blockbuster quality on modest budgets, enhancing project value.

Key insights from Zhu Liang:

1. **Cost Efficiency as Byproduct**: Virtual production's primary benefits are enhanced creative control and faster turnaround. Cost savings naturally follow but aren't the core objective.

2. **Tech Evolution**: iQiyi blends in-house R&D with partnerships. Breakthroughs include synchronized physical/virtual lighting and dual-viewcone interpolation shooting. The goal? Let directors manipulate lighting, time, and scenes instantly like "gods."

3. **Global Standing**: International peers express surprise at iQiyi's technical solutions, particularly unedited overhead shots seamlessly blending real and virtual elements—a testament to China's uncompromising visual standards.

4. **Industry Landscape**: Zhu advises smaller firms to specialize (e.g., digital asset creation) rather than compete in hardware investments. iQiyi actively collaborates with niche players to share resources.

5. **Digital Asset Lifespan**: Post-production, assets can extend into VR, gaming, merchandise, and location-based entertainment. iQiyi already cross-utilizes assets between filming and VR experiences, with plans for broader IP integration.

As hardware like PICO and Vision Pro advances, Zhu anticipates growing opportunities for interactive digital content, creating a virtuous cycle where audience feedback informs future creations.

The industry-wide challenge remains maximizing IP longevity—a frontier where virtual production and multi-platform deployment become key differentiators.