During the epidemic, iQiyi’s member business enjoyed dividends, and its revenue further increased.
May 19, Love Qiyi (NASDAQ: IQ) Announced the unaudited financial report for the first quarter ended March 31, 2020.
The financial report shows that in the first quarter of 2020, iQIYI ’s total revenue reached 7.6 billion yuan (RMB yuan, the same below), an increase of 9% year-on-year, attributed to iQIYI Yi’s net loss was 2.9 billion yuan, compared with 1.8 billion yuan in the same period last year.
Subscription members are one of iQiyi ’s most interesting user indicators. As of the end of the first quarter, the number of iQiyi ’s subscription members reached 119 million, a year-on-year increase 23%, with a net increase of 12 million subscription members in a single quarter.
Specifically for each business, iQiyi ’s revenue is the “first pillar” —member service income is 4.6 billion yuan, an increase of 35% from the same period in 2019, iQiyi said This is mainly due to premium content and Chinese New Year During the holidays and the new coronavirus epidemic, user entertainment demand increased. The new crown epidemic has also challenged China’s macroeconomic environmental challenges. Affected by this, iQiyi’s other major revenue pillar is online advertising revenue of 1.5 billion yuan, year-on-year Decrease by 27%, a new low in the past two years .
In addition, the content of iQiyi’s “Apple Orchard” model distribution revenue of 602.8 million yuan increased by 29% year-on-year