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iQiyi, Chinese Video Streamer, Profits Halved in Latest Quarter
VarietyStory by Patrick Frater
scrn logline
iQiyi, China's streaming giant, faces subscriber and ad revenue setbacks, but finds reprieve in content sales
beat sheet
- iQiyi's Q3 revenue dropped 10% year-over-year to RMB7.2 billion ($1 billion), as subscriptions and advertising declined, signaling tough times in the competitive Chinese streaming market
- However, the company was able to offset losses through increased content sales, providing a glimmer of hope that diversifying revenue streams could help weather the storm
call sheet
iQiyi