Chinese language streaming large iQiYi posted an 8% income decline and deepened losses within the third quarter of 2025, although executives emphasised the platform’s drama market management and rising worldwide operations.
Complete revenues fell to RMB6.68 billion ($938.7 million) for the quarter ended Sept. 30, the corporate stated. That compares to a steeper 11% drop within the earlier quarter, when revenues hit RMB6.63 billion ($925.3 million).
The corporate reported a web loss attributable to iQiYi of RMB248.9 million ($35 million), in comparison with web revenue of RMB229.4 million ($32.2 million) in the identical interval in 2024. The loss widened from the earlier quarter’s RMB133.7 million ($18.7 million) deficit.
Working loss was RMB121.8 million ($17.1 million), in comparison with working revenue of RMB238.9 million ($33.5 million) in Q3 2024. This marked a deterioration from the earlier quarter’s working lack of RMB46.2 million ($6.4 million).
Regardless of the monetary headwinds, CEO Yu Gong struck a optimistic observe. “The success of our latest drama hits underscores our constant skill to amplify IP worth by means of high-quality storytelling and superior manufacturing, to attach with broad audiences, and to construct our enterprise mannequin with IP at its core,” stated Gong, the corporate’s founder and director. “We proceed to scale our IP-centric ecosystem by increasing from on-line to offline, rising from home to abroad markets, and leveraging AI to revolutionize content material creation and consumption.”
CFO Jun Wang highlighted market positive aspects. “Our investments in new initiatives have began to bear fruit, as demonstrated by the strong development of our abroad operations in latest quarters,” Wang stated. “In the meantime, now we have maintained our management within the home market, holding the highest place in whole drama viewership market share for the third quarter of 2025, in response to Enlightent knowledge.”
Membership companies income declined 4% yr over yr to RMB4.21 billion ($591.7 million), an enchancment from the prior quarter’s 9% drop. The corporate attributed the decline primarily to a lighter content material slate in comparison with the identical interval final yr.
Internet advertising companies income fell 7% to RMB1.24 billion ($174.3 million), additionally an enchancment over Q2’s 13% decline. Model promoting enterprise achieved strong year-over-year development, although this was offset by decreases in performance-based promoting.
Content material distribution income dropped 21% to RMB644.5 million ($90.5 million). Income from distribution of theatrical motion pictures invested by iQiYi recorded strong year-over-year development, however this was offset by declining drama collection distribution income. Different revenues fell 20% to RMB585 million ($82.2 million), primarily resulting from altered enterprise cooperation preparations.
Value of revenues decreased 3% to RMB5.47 billion ($768 million), with content material prices declining 1% to RMB4.04 billion ($567.9 million). Analysis and improvement bills fell 8% to RMB412.1 million ($57.9 million), primarily resulting from lowered personnel-related compensation.
As of Sept. 30, iQiYi held money, money equivalents, restricted money, short-term investments and long-term restricted money of RMB4.88 billion ($686 million), down from $705.7 million on the finish of the earlier quarter. The corporate additionally had a mortgage of $522.5 million to PAG, recorded underneath quantities due from associated events.
