Iqiyi continued to make a profit in the second quarter, and membership income rose but the number decreased

Economic Observation Network reporter Ren Xiaoning on the evening of August 30, iQ.us announced the second quarter financial report, with revenue of 6.7 billion yuan decreased by 12%year -on -year, and the net profit after adjustment was 78.25 million yuan, which was a loss from loss. After the adjustment of the same period, the net loss was 1.1 billion yuan.

This is the first time that iQiyi has made a profit again after the first quarter of this year. Jiang Han, a senior researcher at Pangu Think Tank, told reporters that iQiyi can continue to make a profit in fact, which means that iQiyi has adopted a more effective business strategy under the great strategy of lowering costs and efficiency.

Before achieving profitability, iQiyi has been trying to turn losses. In December last year, iQiyi adjusted the business line and cut off some employees of non -core departments such as short videos, games, research institutes, and literature to adjust the structure and content strategy of personnel. In the second quarter of this year, iQiyi continued to reduce costs and increase efficiency. In the second quarter, revenue costs were 5.2 billion yuan, a year -on -year decrease of 24%. This is mainly due to the decline in content costs, a year -on -year decrease of 24%.

Iqiyi's membership revenue in the second quarter was 4.3 billion yuan, an increase of 7%year -on -year, which is its rare growth project. Jiang Han told reporters that the increase in membership income is related to price increases and also proves that there are some good content on the platform that can attract users to buy further. Compared with the same period last year, the number of iQiyi members has declined. As of the end of the second quarter, the total number of members was 98.3 million, which was 99.2 million in the same period last year, a decrease of 900,000.

"The price increase is a double -edged sword. How to rise and what kind of level to rise is an uncertain thing. The platform must understand this degree." Jiang Han told reporters. Since last year, not only Iqiyi has increased prices, but also membership fees such as Tencent Video, Youku, Mango Super Media are increasing prices, which helps the platform to further increase membership income. However, he believes that the platform needs to find more market space from the price increase, so as to truly bring more income increase to the platform.

IQiyi is still the first company in the video industry. According to Quest Mobile data, in June 2022, Iqiyue Living Households were 440 million, Tencent Video was 406 million, and 232 million people ahead of Youku and 252 million people from Mango TV.

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