IQIs second quarter revenue increased 15percent from the same period of last year by 7.1 billion yuan, with a net loss of 2.3 billion yuan.

category:Internet
 IQIs second quarter revenue increased 15percent from the same period of last year by 7.1 billion yuan, with a net loss of 2.3 billion yuan.


Among them, membership service income was 3.4 billion yuan ($497.1 million), online advertising revenue was 2.2 billion yuan ($320.6 million), content distribution and other revenue were 517.9 billion yuan ($75.4 million) and 979.2 billion yuan ($142.6 million), respectively. At the end of the second quarter, the subscription membership reached 100.5 billion, and the subscription membership increased by 50% year on year.

Dr. Gong Yu, founder, director and CEO of IQI, said: The companys performance in the second quarter has once again achieved steady growth, especially the total number of subscribers exceeding 100 million, which has become a milestone in the companys development. In this quarter, a number of operational indicators show that we are further consolidating market leadership, through continuous improvement of the product matrix, our platform has formed a strong synergy. We always insist on producing high quality original content, and promote AI technology innovation to be applied in content production, distribution and monetization. With the rapid development of Chinas entertainment industry and the gradual landing of 5G commercialization, we are confident about the future and look forward to growing together with our customers, partners and investors.

In the second quarter of 2019, IQI membersservice income was 3.4 billion yuan ($497.1 million), an increase of 38% over the same period in 2018. 98.9% of subscribers are paid members. The continuous growth of the number of subscribers is mainly due to the high quality content in this quarter, especially the broadcast of original hot content and diversified operation measures. Despite changes in the macroeconomic environment and delayed broadcasting of some content, online advertising revenue still reached 2.2 billion yuan ($320.6 billion), an increase of 4% annually. IQIs content distribution generated 517.9 billion yuan ($75.4 million) in content distribution revenue in the second quarter. The revenue of other businesses with IP as its core has maintained a high growth rate. In the second quarter, the revenue of other businesses reached 979.2 billion yuan (about 142.6 million US dollars), up 82% year-on-year, accounting for 14% of total revenue. This growth comes from the outstanding performance of vertical business, especially after the acquisition of Tianxiang Mutual Entertainment, the game business has achieved growth. Aiqiyi lost 1.9 billion yuan ($272.6 million) in the second quarter. As of June 30, 2019, IQYI had a total of 16.4 billion yuan ($2.4 billion) in cash, cash equivalents, limited-use cash and short-term investment. For the third quarter of 2019, IQI made the following outlook: total revenue is expected to be between 7.21 billion yuan ($1.03 billion) and 7.63 billion yuan ($1.09 billion), up between 4% and 10% year-on-year. (This outlook represents only a preliminary forecast based on the current situation and does not exclude the possibility of future adjustments). Source: Responsible Editor of Netease Science and Technology Report: Wang Fengzhi_NT2541

In the second quarter of 2019, IQI membersservice income was 3.4 billion yuan ($497.1 million), an increase of 38% over the same period in 2018. 98.9% of subscribers are paid members. The continuous growth of the number of subscribers is mainly due to the high quality content in this quarter, especially the broadcast of original hot content and diversified operation measures. Despite changes in the macroeconomic environment and delayed broadcasting of some content, online advertising revenue still reached 2.2 billion yuan ($320.6 billion), an increase of 4% annually. IQIs content distribution generated 517.9 billion yuan ($75.4 million) in content distribution revenue in the second quarter. The revenue of other businesses with IP as its core has maintained a high growth rate. In the second quarter, the revenue of other businesses reached 979.2 billion yuan (about 142.6 million US dollars), up 82% year-on-year, accounting for 14% of total revenue. This growth comes from the outstanding performance of vertical business, especially after the acquisition of Tianxiang Mutual Entertainment, the game business has achieved growth.

Aiqiyi lost 1.9 billion yuan ($272.6 million) in the second quarter. As of June 30, 2019, IQYI had a total of 16.4 billion yuan ($2.4 billion) in cash, cash equivalents, limited-use cash and short-term investment.

For the third quarter of 2019, IQI made the following outlook: total revenue is expected to be between 7.21 billion yuan ($1.03 billion) and 7.63 billion yuan ($1.09 billion), up between 4% and 10% year-on-year. (This outlook represents only a preliminary forecast based on the current situation and does not exclude the possibility of future adjustments).