iQIYI

iQiyi, Inc., founded in 2010 by Gong Yu and headquartered in Beijing, China, is one of China’s largest and most influential video-streaming platforms. Often described as the “Netflix of China,” iQiyi delivers diverse entertainment content including dramas, movies, variety shows, anime, and documentaries to hundreds of millions of users monthly.

Owned by Baidu, iQiyi quickly became a key player in China’s entertainment industry, known especially for its high-quality original programming such as Story of Yanxi Palace, The Rap of China, and numerous blockbuster original dramas. Its mission is to become a technology-driven entertainment leader, offering highly personalized and engaging experiences for Chinese audiences.

iQiyi operates on a hybrid business model combining subscription-based revenue (paid memberships) and advertising-supported content. While subscriptions provide premium users with exclusive content and ad-free viewing, advertising generates revenue from a broader, free user base.

Additionally, iQiyi monetizes through content licensing, merchandising, and interactive entertainment formats, including live streaming, short-form videos, online gaming tie-ins, and innovative IP-driven product placements.Its sophisticated use of big data and AI algorithms personalizes content recommendations, increasing user retention and engagement.

Within China, iQiyi competes fiercely against major domestic rivals Tencent Video and Youku, maintaining a leading position thanks to compelling original productions and robust technological innovation.

China remains iQiyi’s central market and strongest growth driver. With a significant share of China’s massive online streaming audience, iQiyi has successfully tapped into young, digitally-savvy consumers seeking high-quality, culturally relevant entertainment.

Through strategic investments in original programming, celebrity-driven variety shows, and youth-oriented dramas, iQiyi has become deeply embedded in Chinese pop culture. The company's innovative engagement strategies including interactive dramas, VR experiences, and fan community ecosystems solidify its leadership in China’s hyper-competitive entertainment sector.

Despite regulatory challenges around content censorship and industry oversight, iQiyi leverages its deep cultural insights and government relations expertise to consistently deliver relevant and compliant entertainment content.

iQiyi’s future growth revolves around:

• Strengthening original content creation to sustain subscriber growth and deepen audience loyalty.
• Investing in cutting-edge technologies, including virtual reality (VR), interactive content, and AI-enhanced viewer experiences.
• Expanding international reach, particularly in markets across Southeast Asia and East Asia, through strategic partnerships and co-productions.
• Diversifying revenue streams via gaming, merchandise, IP licensing, and branded offline experiences.

Challenges ahead include intense local competition, ongoing regulatory constraints, and increasing content costs. Nonetheless, iQiyi’s proven ability to blend cultural fluency, technological innovation, and content excellence positions it strongly for sustained leadership in China’s entertainment industry.