iQIYI, Inc. American Depositary Shares - IQ STOCK NEWS

iQIYI has launched a new 'Extra Large Font' function on its app to enhance accessibility for senior users. The feature includes enlarged text size options, simplified poster layouts, prominent voice search, and streamlined navigation. The update also offers audio volume amplification up to 300% and enhanced color settings.

The platform retains essential functionalities while introducing 'Micro-Drama Theater' and 'Short-Drama Theater' content. This development builds on the company's previous accessibility initiatives, including the 'Senior Mode' launched in December 2021. iQIYI has also introduced a Standard VIP Family and Friends Membership service, offering discounted additional accounts for family members.

iQIYI reported Q3 2024 financial results with total revenues of RMB7.2 billion (US$1.0 billion), showing a 10% year-over-year decrease. Operating income was RMB238.9 million with a 3% margin, down from 9% in 2023. Membership services revenue declined 13% to RMB4.4 billion, while online advertising revenue fell 20% to RMB1.3 billion. Content distribution revenue increased 52% to RMB814.0 million. Net income attributable to iQIYI was RMB229.4 million, decreasing 52% year over year. The company maintained RMB4.7 billion in cash and equivalents as of September 30, 2024.

iQIYI has launched a new Standard VIP Family and Friends membership service in mainland China, allowing Standard VIP members to add an additional account at a discounted rate. The main account costs RMB25 (US$3.5) monthly, with the additional account priced at RMB8 (US$1.1), totaling RMB33 (US$4.6) for both. Each account operates independently with separate passwords, watch history, and recommendations, supporting login on up to five devices.

The service includes access to exclusive content like drama series and new formats such as 'Micro-Drama Theater' (1-5 minute vertical dramas) and 'Short-Drama Theater' (5-20 minute horizontal episodes), complementing their traditional long-form content library.

iQIYI (NASDAQ: IQ) announced it will release its third quarter 2024 financial results on November 21, 2024, before the U.S. market opens. The company will host an earnings conference call at 6:30 AM U.S. Eastern Time (7:30 PM Beijing Time) on the same day. A telephone replay will be available until November 28, 2024, and a live and archived webcast can be accessed through the company's investor relations website.

iQIYI concluded its hit comedy variety show 'The King of Stand-up Comedy' with Fu Hang winning first place. The show's finale achieved a popularity index score exceeding 9400, making it iQIYI's top variety show of 2024. The season featured 44 contestants who collectively gained over 5.98 million new followers online. The show dominated variety rankings on third-party platforms like Enlightent and Maoyan Entertainment, ranking among the top three most popular variety shows in iQIYI's major overseas markets. The series generated more than 4,890 trending searches across Chinese social media platforms and builds upon iQIYI's successful comedy ecosystem, which includes other hits like Super Sketch Show.

iQIYI, China's leading online entertainment platform, reported an 11% increase in total viewing time during the 2024 National Day Holiday (October 1-7) compared to the pre-holiday period. The report highlights growing viewer interest across various genres:

- Drama series remained dominant, with new releases quickly entering the top 10 popularity chart.
- Film viewing time surged by 70%, with four films ranking in the top 10 most popular content.
- Variety shows saw a 37% yearly increase in viewing time.
- Animation and kids' content experienced significant jumps of 69% and 35% respectively.
- Short-form content gained popularity, with iQIYI launching 'Micro-Drama Theater' and 'Short-Drama Theater'.

The platform plans to release two mobile-optimized vertical dramas weekly in the 'Micro-Drama Theater' and one new title weekly in the 'Short-Drama Theater' to cater to the growing demand for concise storytelling.

iQIYI, China's leading online entertainment platform, announced the release of over 300 new titles across diverse genres at its 2024 iJOY Conference in Shanghai. The company is strategically expanding into short-form dramas with the launch of 'Micro-Drama Theater' and 'Short-Drama Theater', exclusively for paid subscribers. This initiative addresses the growing demand for concise storytelling while maintaining premium production quality.

iQIYI is also capitalizing on the increasing global popularity of Chinese content, particularly in Southeast Asia. The company plans to enhance existing drama IPs and diversify its content offerings in documentaries, films, animation, kids' content, and sports. Additionally, iQIYI is developing Taodou 2.0, an intelligent assistant integrating advanced language model technology to enhance user experience and content distribution methods.

iQIYI, China's leading online entertainment platform, has launched The King of Stand-up Comedy, an original show that has sparked enthusiasm for stand-up comedy in China. The show, featuring 44 groups of comedians competing for the title of 'King of Comedy', has achieved a content popularity index of about 8,700 and topped iQIYI's variety show charts in overseas markets. Initiated by Stephen Chow, the show aims to inspire ordinary people to share their life observations through comedy.

iQIYI's commitment to comedy is further demonstrated by its partnership with Chow's Bingo Group to produce innovative content. The success of The King of Stand-up Comedy builds on iQIYI's previous hits like Super Sketch Show, enriching the platform's comedy ecosystem. The show has also fostered collaboration with over 40 comedy clubs, promoting sustainable development in China's growing comedy industry.

iQIYI, China's leading online entertainment service, has successfully launched a new VR immersive theater at Galaxy Macau, adapted from the popular fantasy series 'Love Between Fairy and Devil'. This project showcases the commercial potential of iQIYI's premium IP and follows successful VR adaptations of other blockbuster IPs.

The VR experience incorporates cutting-edge technology, including interactive gesture control, flight motion simulators, and artificial intelligence. The venue also features themed activities, dress-up zones, and cultural events. iQIYI plans to expand this project to various Chinese cities by the end of 2024.

This initiative is part of iQIYI's strategy to explore new revenue streams beyond membership and ads, leveraging its valuable IP for offline experiences and IP derivatives. The company aims to capitalize on the growing trend of immersive entertainment, extending the influence of its premium content and driving commercial value.