![]() ![]() In addition to membership and advertising revenue, iQIYI’s content distribution in this quarter achieved revenue of RMB 7791 million (about 1. Thanks to the macroeconomic recovery, the brand advertising budget and the number of brand advertisers have rebounded. In terms of revenue, in addition to member revenue, advertising revenue reached RMB 1.9 billion (about 292.5 million US dollars) in the first quarter, an increase of 25% year-on-year. ![]() The content in the third and fourth quarters of this year is higher than that in the first half of the year. On the same day’s financial report teleconference, when Gong Yu, CEO of iQIYI, was asked about the fluctuation of the number of members, he mentioned that when the video industry lacks content, the number of members declines, and when the content is sufficient, there will be an influx of paid members. The online entertainment industry, including online video, has ushered in a wave of large-scale payment user growth, but whether the platform can continue to retain these users in large quantities is at risk. ![]() This is partly affected by last year’s COVID-19 epidemic. ![]() The number of subscription members of iQIYI decreased from 119.9 million as of Mato 105.3 million as of March 31, 2021. In the first quarter, iQIYI’s membership service revenue was RMB 4.3 billion (about $658.1 million), a year-on-year decrease of 7%. With the suspension of buying tickets and playing on the list, how to explore the commercialization of the talent show will not only affect iQIYI, but also have a certain impact on the entire video industry.Īlthough the income of members and subscribers have increased month-on-month, there has been a certain decline year-on-year. Previously, Bank of Communications International had predicted in its report that top variety shows such as “Fantastic Talk 7” and You With You 3 would drive iQIYI’s advertising revenue to increase by 1% month-on-month and 22% year-on-year. Impact of Variety Shows on iQiyi’s Revenue It is strictly forbidden for any institution or individual to carry out data fraud and interfere with program selection in the form of “spending money on tickets” and “raising funds to fight investment”. On May 10, the Beijing Radio and Television Bureau issued the Notice on Further Strengthening the Management of Network Variety Programs, requiring that no “spending money to vote” link should be set up in the program, and it is strictly forbidden to deliberately guide and encourage netizens to use material means such as shopping and becoming members to vote for contestants. Mengniu Dairy’s official Weibo page also posted an apology on Weibo, saying that they “firmly opposed all forms of food waste.” They also stated that they “apologize for the adverse social impact caused by this, and will reflect deeply and take active action to rectify and earnestly fulfill their social responsibility, and avoid the recurrence of such incidents.” On the evening of May 6, iQIYI’s official Weibo published an apology for the “milk pouring video” and announced the rectification measures of “Youth With You 3”, including the suspension of recording and live broadcast on the group night originally scheduled for May 8. Behind the list of fans, the domestic “fan circle” economy has fallen into a deformed state. It seems that the ranking is to test the public acceptance and commercial value of the draft contestants in a market way with the input of fans, but it is actually equivalent to driving sales in disguise. Netizens accused that the voting setting is directly bound to sales. However, behind the huge talent show, the milk dumping incident was exposed, the chaos in the fan circle was pushed on the hot search, and the platform fell into a huge controversy. Behind this, it is inseparable from the driving of popular online variety shows such as the solo drama “Duty” and “Youth With You 3” launched in the first quarter. According to the financial report, in the first quarter of 2021, iQIYI’s total revenue reached RMB 8 billion (about 1.2 billion US dollars), an increase of 4% year-on-year the net loss attributed to iQIYI was 1.3 billion yuan (about 193.4 million US dollars), which was 55% narrower from the net loss of 2.9 billion yuan in the same period last year.īy the end of the first quarter, the number of iQIYI subscription members reached 105.3 million, the subscription membership in the first quarter increased by 3.6 million month-on-month, and the revenue of membership service increased by 12% month-on-month. Today, iQIYI released unaudited financial reports for the first quarter ended March 31, 2021. Fans bought milk from iQiyi’s sponsors to cast votes for their idols, but never got to drinking it, resulting in the Youth With You 3 vote controversy ![]()
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