iQIYI Reaches 100 million Total Subscribing Members Milestone
June 24 2019 - 4:30AM
iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an
innovative market-leading online entertainment service
in China, today announced that the number of its total
subscribing members surpassed 100 million.
“This represents a significant milestone for
iQIYI and reinforces our position as China’s leading online video
streaming platform,” commented Dr. Yu Gong, Founder, Director and
Chief Executive Officer of iQIYI. “We pioneered the subscription
business model in China and have generated tremendous growth in
subscriber numbers over the past years. Leveraging our exceptional
capabilities in producing original content and deploying innovative
AI technology, we have achieved remarkable membership conversion
through our relentless efforts to cater to the diverse
entertainment needs of our users and optimize their experience on
our platform. Chinese consumers are increasingly willing to pay for
high-quality content, a trend underpinned by the rapid evolvement
of the entertainment industry and technology in China. Reaching the
100 million total subscribing member milestone is a strong
testimony to the solid foundation we have built, and we will
continue to strengthen our platform, create more innovative
original content, refine our ecosystem, and capture the enormous
potential in the new phase of China’s online entertainment
industry.”
About iQIYI,
Inc.
iQIYI, Inc. is an innovative market-leading
online entertainment service in China. Its corporate DNA combines
creative talent with technology, fostering an environment for
continuous innovation and the production of blockbuster content.
iQIYI’s platform features highly popular original content, as well
as a comprehensive library of other professionally-produced
content, partner-generated content and user-generated content. The
Company distinguishes itself in the online entertainment industry
by its leading technology platform powered by advanced AI, big data
analytics and other core proprietary technologies. iQIYI attracts a
massive user base with tremendous user engagement, and has
developed a diversified monetization model including membership
services, online advertising services, content distribution, live
broadcasting, online games, IP licensing, online literature and
e-commerce etc.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "confident" and
similar statements. Among other things, the quotations from
management in this announcement, as well as iQIYI's strategic and
operational plans, contain forward-looking statements. iQIYI may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including but not limited to statements about
iQIYI's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following:
iQIYI's strategies; iQIYI's future business development,
financial condition and results of operations; iQIYI's ability to
retain and increase the number of users, members and advertising
customers, and expand its service offerings; competition in the
online entertainment industry; changes in iQIYI's revenues, costs
or expenditures; Chinese governmental policies and regulations
relating to the online entertainment industry, general economic and
business conditions globally and in China and assumptions
underlying or related to any of the foregoing. Further information
regarding these and other risks is included in the Company’s
filings with the Securities and Exchange Commission. All
information provided in this press release and in the attachments
is as of the date of the press release, and iQIYI undertakes no
duty to update such information, except as required under
applicable law.
For more information, please contact:
Investor RelationsiQIYI, Inc.+ 86 10 8264 6585
ir@qiyi.com
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