Last Updated -
January 8, 2025
Explore the business model, global strategy, and market performance including insights into its position in China.
Founded in 2010 and headquartered in Beijing, China, iQIYI, Inc. is one of China’s largest video streaming platforms, often referred to as the “Netflix of China.”
With a mission to “Be an Entertainment Ecosystem Innovator,” iQIYI combines original content production, AI-driven recommendations, and interactive entertainment to captivate its massive user base.
The platform offers a diverse mix of TV dramas, films, variety shows, anime, and user-generated content to more than 100 million subscribers.
iQIYI operates a freemium business model, offering:
Ad-Supported Free Content:
Monetized through advertising revenues.
Premium Subscriptions:
Ad-free viewing, early access to content, and higher streaming quality.
Content Licensing and Production:
Creating exclusive series and acquiring popular titles to drive subscriptions.
Interactive Formats:
Augmented reality (AR), virtual reality (VR), and gaming integration to boost engagement.
AI-Powered Recommendations:
Enhances user engagement through advanced machine learning algorithms.
Original Productions:
Blockbusters like The Bad Kids and Yanxi Palace rival global hits.
Innovative Formats:
Experiments with interactive storytelling and gamified viewing experiences.
Unlike most global tech giants, Netflix has no direct presence in China due to regulatory barriers.
Licensing Restrictions:
Chinese regulations heavily control foreign media content.
Local Competition:
Dominated by platforms like iQIYI, Tencent Video, and Youku, which cater specifically to local tastes.
Content Censorship:
Strict content approval processes make it difficult for global platforms to operate.
⦁ Focuses on licensing its content to local platforms such as iQIYI.
⦁ Continues targeting global Chinese-speaking audiences through localized content.
⦁ Observes China’s market indirectly as a testing ground for trends and distribution models.
iQIYI’s growth is fueled by its focus on content creation, technological advancements, and diversified revenue streams.
Original Content Investments:
Expanding its library of exclusive shows and films to attract new subscribers.
AI and Data Analytics:
Enhancing viewer engagement with personalized recommendations and interactive formats.
International Expansion:
Licensing Chinese content globally and forming partnerships for localized versions of its platform.
Live Streaming and E-Commerce Integration:
Creating new revenue models by merging shopping features with entertainment.
Competition from Domestic Rivals:
Tencent Video and Youku remain aggressive competitors.
Content Regulation:
Navigating censorship laws and approval processes in China.
Profitability Concerns:
Managing high production costs while scaling subscriptions.
This Company Profile was written by Dominik Diemer
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