And we anticipate the performance for next year will be better than this year. Regarding variety shows, while keeping content costs relatively stable, we will increase the number of programs and upgrade our production team. In addition to the already market-proven, multi-season variety shows, several Innovative projects will be gradually introduced starting from Q4 this year, such as our original physical competition show We Never Stop, which will be launched at the end of November, and we have internally high expectations for that. In terms of business models, we will explore monetization models beyond advertising, membership, and IP derivatives as well as explore more IP development opportunities throughout its lifecycle. For movies, we will increase investment in films made for online distribution and top-tier content feature films, while further optimizing the operating models for online films, theatrical releases, and our ITE cloud cinema.
For tourist content, we will appropriately increase investments, strengthen the influence of our multi-season IPs, and increase commercially-oriented original content as well as expand PUGC content. Our primary objective will be increasing the revenue growth potential, and expanding IP licensing, and exploring additional revenue potential such as toy licensing, and et cetera. As for Animation, third quarter was the best quarter we have had for original animations. We are confident in further increasing investment in original content next year expect a moderate increase in the number of original titles. Thank you.
Operator: The next question comes from Thomas Chong of Jefferies. Please go ahead.
Thomas Chong: Thanks management for taking my questions. May I ask about our overseas outlook as well as our strategies? Thank you.
Chang You: Our Senior Vice President, [indiscernible] will answer this question. Thank you.
Unidentified Company Representative : Our overseas business started in 2019 and encountered the outbreak of COVID, which led us to adjust and slow down our progress over these three years. However, through these three years of exploration, we have also achieved fruitful results. Firstly, we have validated our business model. Although our overseas business is still small in scale, in 2023, we forecast to achieve revenue growth and profitability. We have experimented in different markets and identified the methods for growth and profitability that can be gradually replicated, in other markets. And secondly, we have validated the influence of iQIYI’s original content overseas, establishing our core competitiveness. Our goal is to establish our overseas platform as the home of beloved Asian content, and iQIYI’s original Chinese dramas are a most evident advantage.
Over the past years, Chinese dramas have witnessed significant viewership growth in certain markets, we have seen the potential of CPP. Lastly, we began to build a comprehensive ecosystem in key countries, including cooperation with local regulatory agencies, content partners, and channel partners. Through these collaborations, we have already launched exceptional local drama content. We can bring outstanding content and culture from all over the world to iQIYI users in China and also around the world through our global network. These advancements have inspired us, largely. Building on these three achievements, we aim to strengthen collaboration with partners around the world using content as a medium and leveraging technology platforms to facilitate cultural exchange and also, explore new commercial opportunities.
We will continuously empower and add value to everyone in our ecosystem.
Operator: The next question comes from Maggie Ye of CLSA. Please go ahead.
Maggie Ye: Thank you, management for taking my question. My question is about advancement we made in the application of generative AI technologies at iQIYI. And I’m particularly interested in understanding the results we have already achieved in terms of improvement in business efficiency as well as cost structure. And also want to learn more about management’s perspective on the long-term impact of these technologies. Thank you.
Chang You: Sure. Thank you, Maggie. And then we will have Wenfeng, our CTO to answer this question.
Wenfeng Liu: Okay. We believe the generative AI will have significant impact on the entire video industry in the next three years to five years, bringing significant changes in production methods, cost structure and personnel structure. So currently, iQIYI has already started implementing generative AI in core areas such as content planning, development, production, and promotion. We have achieved a certain level of productivity in four major application scenarios, namely text, in image, sound, and video. And this has helped, creators to improve quality, optimize efficiency and reduce costs. For example, in content planning base, we have used generated AI to compress the time required for a short extensive evaluation feedback from project assessment process from several hours to a few minutes.
In the development phase, the use of generative AI have assisted reducing the time required for manual reading from three days to four days to about one hour. The accuracy of scene and a character breakdown in spruce have also exceeded 90%. In the production phase, producers have effectively saved on design and production costs, by using generative AI tools to generate character sketches and concept posters. In the promotion phase, high-quality posters and dynamic videos generated by generative AI have been applied in on-platform operations and off-platform advertising for key projects such as Different and The Big Band 3. In addition to content production, we also utilize AI-generated creative tools for effective app material production for performance ad.
