Total revenues of iQiyi grew to RMB6.9 billion (US$1.0 billion) in Q3 2018, representing a 48% increase from the same period in 2017. Membership services revenue was RMB2.9 billion (US$415.3 million), representing a 78% increase from Q3 2017. Online advertising services revenue was RMB2.4 billion (US$348.9 million), down 4% YoY.
China’s online video market remains dominated by iQiyi, Tencent Video, and Youku. Check out the top mobile video apps in China here.
Net loss attributable to iQIYI was RMB3.1 billion (US$457.3 million), compared to RMB1.1 billion in the same period in 2017. Diluted net loss attributable to iQIYI per ADS was RMB4.34 (US$0.63).
The number of its total subscribing members was 80.7 million as of September 30, 2018, over 98% of whom were paying subscribing members. This compares to 42.7 million of total subscribing members as of September 30, 2017, up 89% year over year.
iQiyi’s record-breaking drama series Story of Yanxi Palace turned out to be a mega-hit for the entire summer, demonstrating its potentials in producing high-quality premium content. Leveraging our extensive content offerings and expanding distribution network.
iQiyi ranked No. 1 across reach and engagement operating metrics in Q3 2018 according to its press release.
The QIYU VR II headset from iQiyi reached the top ranking on both JD.com and TMall in the ‘Over 2,000 RMB mid-to-high-end VR all-in-one’ headset category. The QIYU VR II won the 2018 METIS Award for Virtual Reality/Augmented Reality Innovation, a.k.a. the AM Turing Award.