iQIYI
The 'Netflix of China'; iQIYI has survived the streaming wars by shifting from a high burn acquisition model to an AI driven 'Quality First' production house.
Revenue
$3.8B
FY2025
Profitability
Profitable
Division
Tech Platforms
Public (Baidu Subsidiary)
Headquarters
Beijing
Gong Yu
Operating Model
What They Do
Operates the largest long form video platform in China. It produces 'iQIYI Originals' and uses the Miaoda vibe coding platform to automate content productivity.
Who They Serve
100 million+ paying subscribers and millions of ad supported viewers globally.
Moat: Where They Win
Original Content
Consistently leads in domestic drama market share.
Overseas Surge
Membership revenue in markets like Mexico and SE Asia grew 80% in 2025.
Business Model
Model Type
Revenue Streams
Profitability
Status
Profitable
Revenue
$3.8B
FY2025
Division
Tech Platforms
Public (Baidu Subsidiary)
Margin Profile
Moderate but stable. Achieved four consecutive years of operating profit by focusing on hit driven content efficiency.
Catalyst: Why Now
In 2026, iQIYI is utilizing 'AIGC' (AI Generated Content) to shorten development cycles for long form dramas, aiming for a permanent reduction in content costs.
Competitive Landscape
* Competitive threat index · China domestic market positioning
Western Analogs
Mental model only, not a 1:1 comparison
Founder
Gong Yu
Founder & CEO
The founder and CEO who has led iQIYI through its NASDAQ IPO and the brutal 10-year battle for dominance in Chinese digital entertainment.