iQiyi posts 10 billion yuan in membership(会员资格) income

2019-02-22
Chinese video website iQiyi posted 52 percent revenue growth in 2018 ,thanks to booming membership business and diversified services , the company said on Friday.

In 2018,iQiyi' membership income reached 10.6 billion yuan, the first time a Chinese video website has gained more than 10 billion yuan in memberships ,By the end of last year, iQiyi had more than 87.4 million paid members .

People are used to paying for high-quality online content ,and they're willing to respect IPR or intellectual property rights .The trend boots revenue of websites like iQiyi ,Tencent Video and Tudou,analysts said.

In 2018 ,iQiyi's revenue reached 25 billion yuan , up 52 percent from the year before ,It aims to provide "a wide array of premium content , especially self-produced drama series " to attract more members , the company said .

The diversified business of iQiyi includes literature ,game and film production .It also joined hands with banks and dot-com giants like JD.com,China Mobile and Ctrip to expand business and membership.

In the first quarter of 2019 ,iQiyi expected revenue to hit 6.8billion to 7.1 billion yuan ,or 40 to 46 percent growth year-on-year.