iyi continues membe亚博娱乐yb156乌托邦h despite challenges

iyi continues membe亚博娱乐yb156乌托邦h despite challenges

Chinese on-demand video streaming platform iQiyi Inc reported a 15 percent year-on-year increase in revenu

e in the second quarter of 2019, continuing to see strong growth in its paid membership.亚博娱乐yb156乌托邦女神会所

Unaudited results show the company’s second-quarter revenue reached 7.1 billion yuan ($1 billion). The report also n

oted iQiyi’s net loss expanded to 2.3 billion yuan from 2.1 billion during the same period in 2018.亚博娱乐yb156乌托邦

Membership services mainly drove the company’s revenue. The company attributed this to its premium content — es

亚博娱乐yb156乌托邦女神会所pecially original programming — as well as various operational initiatives during the quarter.

For the second quarter, iQiyi’s membership revenue grew 38 percent year-over-year to 3.4 billio

n yuan, in line with the 50 percent growth it posted as its member rolls jumped to 100.5 million from亚博娱乐yb156乌托邦

67.1 million during the same period last year. Among overall subscribers, 98.9 percent are paid.

“We achieved continued revenue growth in the second quarter despite some rec

ent challenges facing our industry,” said Wang Xiaodong, chief financial officer亚博娱乐yb156乌托邦

of iQiyi. “Our membership business generated solid growth, with subscription revenues increasing 38 per

cent year-over-year, driven by our strong content slate during the quarter. As our IP-centered diversification strateg亚博娱乐yb156乌托邦女神会所

y grows to scale, we are constantly expanding the scope of our value-added services and pursuing better mon

etization. We believe our long-term growth landscape remains intact, and we will conti亚博娱乐yb156乌托邦

nue to invest in our original content and technology which serve as the dual engines to drive future growth.”

Online advertising service revenue was 2.2 billion yuan in the second quarter, down 16 percent ye亚博娱乐yb156乌托邦女神会所

ar-on-year mainly due to the challenging macroeconomic environment in China, content launch dela

ys and slower-than-expected recovery of its in-feed advertising, the company explained.

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