Iqiyi Stock Price, News & Analysis

iQIYI, Inc. (Nasdaq: IQ) is a provider of online entertainment video services in China. According to the company, it combines creative talent with technology to support continuous innovation and the production of blockbuster content. iQIYI produces, aggregates and distributes a wide variety of professionally produced video, along with other content in multiple formats, through its online entertainment platform.

The company describes itself as a leading online entertainment platform in China, with a technology platform powered by advanced AI, big data analytics and other proprietary technologies. Over time, iQIYI reports that it has built a large user base and developed a diversified monetization model that includes membership services, online advertising services, content distribution, online games, IP licensing, talent agency and online literature.

Business model and revenue streams

Based on the company’s own disclosures in its earnings releases, iQIYI’s revenues come from several main categories. These include membership services revenue, where users pay for access to content; online advertising services revenue, which reflects advertising placed around its video services; content distribution revenue, which relates to distributing content such as drama series and theatrical movies invested in by iQIYI; and other revenues, which the company links to certain additional business lines.

In its financial results for multiple quarters in 2025, iQIYI breaks out these categories and discusses factors affecting them, such as the strength of its content slate, changes in brand and performance-based advertising, and trends in content distribution related to drama series and movies. The company also highlights free cash flow and non-GAAP measures such as non-GAAP operating income and non-GAAP net income as supplemental indicators of operating performance.

Content strategy and IP-centric ecosystem

iQIYI emphasizes an IP-centric ecosystem, describing its business model as built around intellectual property (IP). Management commentary in recent earnings releases notes that drama hits and other content are used to amplify IP value through storytelling and production quality, and that the company aims to scale this ecosystem from online to offline and from domestic to overseas markets.

At its 2025 World Conference, iQIYI outlined an integrated “long + short” content strategy. The company announced a slate of over 400 titles across drama series, mini- and short-dramas, variety shows, films, documentaries, animation and sports for a two-year transformation period. It described five signature drama brands, including theaters focused on comedy, crime, romance, literary adaptations and cinematic experimentation with fewer episodes. iQIYI also discussed initiatives for mini-dramas and short-dramas designed to respond to changing viewing habits and fragmented consumption patterns.

Variety shows, micro dramas and seasonal IP

Beyond scripted drama, iQIYI develops and operates variety shows and other entertainment formats. The company highlights long-running variety shows such as “The Rap of China,” “The King of Stand-Up Comedy” and “Become a Farmer” as examples of its content. It also promotes seasonal IPs like the travel-themed reality show “The Blooming Journey,” which it describes as focusing on female-centric storytelling and themed journeys across multiple locations in China and regions such as Hong Kong and Macao.

iQIYI reports that its micro drama library has surpassed 15,000 titles and that it has launched initiatives such as the “Thousand Micro Dramas Initiative” and other programs to enhance its position in short-form content. These initiatives are presented as part of its response to evolving audience preferences and as a way to build franchises and long-term IP value.

Technology platform and AI integration

According to the company, iQIYI distinguishes itself in the online entertainment industry through a technology platform powered by advanced AI, big data analytics and other proprietary technologies. The company states that AI is embedded across the content lifecycle, from production to distribution, with tools such as virtual production technology, a Clip System for synchronized multi-camera recording and real-time cloud uploads, and an upgraded QClip production suite for cloud-based asset management and on-set monitoring.

iQIYI has also introduced user-facing AI features. The company describes iJump as a feature that allows viewers to jump between scenes, with AI analyzing user habits and attention patterns to surface different cuts of content. It also mentions Taodou, an intelligent assistant that provides recommendations and access to content via voice and text, and Taodou World, which uses large AI models to enable real-time conversations with virtual characters from iQIYI titles.

IP monetization beyond the screen

In addition to online video services, iQIYI reports that it is expanding IP monetization into offline and consumer product channels. The company highlights growth in its Experience Business, which transforms hit shows and characters into offline attractions and consumer IP products. According to its disclosures, iQIYI uses authorized IPs from in-house and partner studios to create collectible trading cards, merchandise collaborations, immersive theaters and theme parks branded as “iQIYI Land.”

The company states that it manages the product lifecycle of certain consumer IP products in-house, from planning to sales, and that self-operated collectible trading cards and merchandise tied to specific shows have generated notable gross merchandise value. It also notes that it operates immersive theaters in multiple cities across China and is developing iQIYI Land theme parks in cities such as Yangzhou and Kaifeng.

iQIYI further describes a content-driven e-commerce platform that integrates its IP portfolio, livestreaming and short-form videos. This platform is intended to allow users to interact with content while purchasing products in real time, with paid subscribers identified as core users.

Digital asset library and virtual production

iQIYI has disclosed that it has built a Digital Asset Library, which curates premium digital assets created through 3D techniques and integrates technologies such as AI and 3D scanning. The company reports that this library contains over 10,000 digital assets and that it is used to support virtual production and cross-scenario content creation in areas such as film, television, gaming and virtual reality.

Through a partnership with CGModel.com, iQIYI has begun licensing and commercializing certain 3D digital asset packs, such as a Tang Dynasty architecture pack designed to recreate historical settings. The company states that reusing digital assets across multiple productions can reduce workloads and improve production efficiency, and that these assets have already been used in its own original productions.

International expansion and localization

iQIYI describes itself as expanding from domestic to overseas markets. In public statements, the company notes that Chinese content is gaining momentum overseas and that its international strategy focuses on high-quality content and deep localization. It highlights efforts to understand audience preferences in each market to shape content positioning, user experience and marketing approaches.

The company has stated that it has established branches in regions including Singapore, Thailand, Malaysia, Indonesia, North America and the MENA region. It is investing in locally tailored content production and short-form drama innovation to serve diverse global audiences, while continuing to build on its Chinese content library.

Ownership and corporate structure context

According to the Polygon description provided, iQIYI is a streaming video-on-demand company in China that generates revenue mostly through subscriptions and also monetizes user-generated content through advertising. The same description notes that the company self-produces much of its subscription content and generates revenue through content distribution, gaming and IP licensing. It also states that Baidu and Xiaomi hold ownership stakes in iQIYI.

iQIYI files reports with the U.S. Securities and Exchange Commission as a foreign private issuer on Form 20-F and furnishes current reports on Form 6-K. Recent 6-K filings have included press releases on quarterly financial results and changes to board composition. These filings confirm that the company remains listed on Nasdaq under the symbol IQ.

FAQs about iQIYI, Inc. (IQ)

• What does iQIYI, Inc. do?
  iQIYI, Inc. operates an online entertainment video platform in China. The company states that it produces, aggregates and distributes professionally produced content and other video in a variety of formats, supported by a technology platform that uses AI and big data analytics.
• How does iQIYI generate revenue?
  According to the company’s earnings releases, iQIYI generates revenue from membership services, online advertising services, content distribution and other revenues. The Polygon description also notes additional revenue from areas such as online games and IP licensing.
• What is iQIYI’s content strategy?
  iQIYI describes an integrated “long + short” strategy that includes long-form drama series, mini- and short-dramas, variety shows, films, documentaries, animation and sports. It emphasizes premium storytelling, micro dramas and seasonal IPs as part of this approach.
• How does iQIYI use AI and technology?
  The company reports that its platform is powered by advanced AI and big data analytics. It uses AI in virtual production, content recommendation, viewing features like iJump, and tools such as Taodou and Taodou World. AI is also applied in its Screenplay Workshop and production systems to support creators and improve efficiency.
• What is iQIYI’s IP-centric ecosystem?
  Management describes iQIYI’s business model as IP-centric, meaning that it builds and extends intellectual property from its content. This includes using drama hits and variety shows to create franchises, consumer products, immersive experiences and other monetization channels.
• How is iQIYI expanding beyond online video?
  iQIYI has disclosed growth in its Experience Business, which includes collectible trading cards, merchandise collaborations, immersive theaters and iQIYI Land theme parks. It is also trialing a content-driven e-commerce platform that links IP, livestreaming and short-form video with product sales.
• Does iQIYI operate internationally?
  Yes. The company reports that it is expanding from domestic to overseas markets and has established branches in regions such as Southeast Asia, North America and MENA. It focuses on localization of content and user experience in these markets.
• What types of shows are associated with iQIYI?
  iQIYI highlights a range of content, including drama brands under theaters like “Laugh On,” “Light On,” “Love On,” “Masterpiece” and “Microcosm.” It also points to variety shows such as “The Rap of China,” “The King of Stand-Up Comedy,” “Become a Farmer” and seasonal IPs like “The Blooming Journey.”
• How does iQIYI report its financial results?
  As a foreign private issuer listed on Nasdaq, iQIYI furnishes quarterly financial results on Form 6-K and files annual reports on Form 20-F with the U.S. Securities and Exchange Commission. Its quarterly releases include GAAP and non-GAAP metrics, revenue breakdowns and commentary from management.
• Is iQIYI still listed on Nasdaq?
  Recent press releases and Form 6-K filings identify iQIYI, Inc. with the Nasdaq ticker IQ and include conference call details for quarterly results. There is no indication in the provided materials of a delisting, so based on this information the company continues to trade on Nasdaq under the symbol IQ.