The number of iQiyi’s total subscribing members reached 96.8 million as of March 31, 2019, 98.6% of whom were paying subscribing members. This compares to 61.3 million of total subscribing members as of March 31, 2018, up 58% year over year.
iQiyi’s revenues in Q1 2019 were RMB7.0 billion (US$1.0 billion), representing a 43% increase from the same period in 2018.
- Membership services revenue was RMB3.4 billion (US$513.4 million), representing a 64% increase from the same period in 2018.
- Online advertising services revenue was RMB2.1 billion (US$315.8 million), flat compared to the same period in 2018
- Content distribution revenue was RMB442.6 million (US$66.0 million), representing a 66% increase from the same period in 2018
Its operating loss was RMB2.0 billion (US$301.9 million) and operating loss margin was 29%, compared to operating loss of RMB1.1 billion and operating loss margin of 22% in the same period in 2018.
Net loss attributable to iQIYI was RMB1.8 billion (US$270.3 million), compared to net loss attributable to iQiyi of RMB395.7 million in the same period in 2018. Diluted net loss attributable to iQIYI per ADS was RMB2.52(US$0.35).
iQiyi mobile app ranks the fourth by total unique visitors in March 2019 according to data from iResearch. It’s the top video app based on the same data with about 578 million UVs, followed by Tencent Video.
For the second quarter of 2019, iQiyi expects total net revenues to be between RMB6.91 billion (US$1.0 billion) and RMB7.29 billion (US$1.1 billion), representing a 12% to 18% increase YoY.