Iqiyi Stock Price, News & Analysis

iQIYI launched the world's first virtual reality game show, Memoon Player, on Dec. 9, 2022, featuring a unique VR environment based on Moon geography. The show attracted over 1.2 million viewers prior to its premiere. It allows participants to immerse themselves in VR adventures while interacting with their avatars. Accompanying the show is the Memoon Land app, enhancing user engagement with social features and merchandise sales. The project involved a team of 110 engineers and numerous partnerships with industry leaders, reinforcing iQIYI's commitment to tech-enabled entertainment innovation.

iQIYI (Nasdaq: IQ) reported its Q3 2022 financial results, showing total revenues of RMB7.5 billion (US$1.1 billion), down 2% from the previous year. However, the company achieved operating income of RMB309.7 million (US$43.5 million), a significant turnaround from a loss of RMB1.4 billion in Q3 2021. Non-GAAP net income reached RMB187.2 million (US$26.3 million), compared to a loss of RMB1.4 billion last year. The company reported strong subscriber growth, with 106.2 million members by the end of September 2022. Operating cash flow remained positive for two consecutive quarters.

iQIYI hosted its second Hack Day from Sep. 5 to Oct. 22, 2022, under the theme 'Launching the Future of Entertainment.' The event attracted 177 tech enthusiasts forming 44 teams, showcasing projects on areas like virtual production and blockchain. CTO Liu Wenfeng emphasized the event's aim to bridge innovation with practical entertainment solutions, highlighting tech that enhances user experiences, such as remote assistance for elderly viewers and eye movement video controls. iQIYI continues to innovate with features like 'Chat Together' and 'Rhythm Mode,' enhancing content creation efficiency in China's film and TV industry.

iQIYI reports a 20% increase in viewing hours during the National Day Holiday (Oct. 1-7, 2022), with a notable 11% rise in daily active users compared to the previous week. Premium, long-form content, especially anime, drove this surge, with viewing hours for anime up nearly 50%. The company's strategy to produce diverse and quality content appears effective, as evidenced by strong performances in various genres. Additionally, big-screen viewing saw a 22% increase week-over-week, indicating a growing trend among users to consume content on larger screens.

iQIYI launched a groundbreaking 5D in-vehicle cinema in collaboration with XPeng Motor on Sep. 21, revolutionizing in-vehicle entertainment in China. This innovative cinema utilizes advanced technology for immersive experiences, integrating physical cockpit features for sensory effects during content playback. The initial film offerings include hits like Dune and Godzilla vs. Kong. iQIYI's efforts also include patent applications for new technologies, positioning the company as a leader in smart cockpit developments with partnerships across the automotive industry.

iQIYI, a leading online entertainment service in China, announced that its series Shining for One Thing generated over RMB 100 million in revenue through its revenue-sharing model. This success highlights the platform's ability to drive commercial gains for quality content. iQIYI plans to continue collaborating with producers to develop premium content, reflecting a growing market with 23 new shows launched in 2022, a 4% year-on-year increase. The revenue-sharing model is enhancing income diversity and fostering a positive development cycle for online dramas.

iQIYI, an online entertainment service in China, announced 235 new films and series at the iJOY Conference held on September 15, 2022. This extensive lineup underscores iQIYI's commitment to producing premium original content. The company turned profitable for the first time this year and plans to continue its 'calm growth' strategy, focusing on investing in high-quality content to drive user engagement and revenue.

iQIYI aims to cater to Gen Z with diverse programming, including dramas about modern women's stories and popular variety shows.

iQIYI upgraded its revenue sharing system for the Cloud Cinema Premiere model, increasing producer revenue share from 60% to 90% for films released via Premium Video on Demand (PVOD). This initiative aims to drive growth in the online film market and provides producers with more incentives. Notable top-earning films include Dreams of Getting Rich and Northeastern Bro, showcasing the success of this strategy. iQIYI's Vice President emphasized the goal of fostering a fair media ecosystem through collaboration with industry talents.