iQIYI Business Summary

iQIYI, Inc. operates as a leading online entertainment service in China, utilizing a diversified monetization model that integrates subscription-based services, advertising, and intellectual property (IP) licensing. The company’s primary revenue segments include Membership Services, which provides premium access to original content; Online Advertising Services, leveraging its massive user base for brand marketing; Content Distribution, involving the sub-licensing of titles globally; and Others, which encompasses online games, talent agency services, and emerging offline ventures like the iQIYI LAND theme parks. As of early 2026, the company has pivoted toward a "long + short" content strategy, significantly expanding its mini-drama portfolio and integrating generative AI to optimize production costs. iQIYI competes directly with Tencent Video, Alibaba’s Youku, Bilibili, and Mango TV. Within this landscape, iQIYI maintains a leadership position in original drama viewership and premium content ROI, positioning itself as the premier destination for high-quality long-form video despite intensifying competition from short-video platforms. The company was founded in 2010 by Dr. Yu Gong, who serves as Director and Chief Executive Officer and previously held senior leadership roles at Sohu and focus.cn. The executive team includes Chief Content Officer Xiaohui Wang, who oversees the Professional Content Business Group (PCG), and Interim Chief Financial Officer Ying Zeng, who was appointed in January 2026 following the resignation of Jun Wang. Zeng brings extensive financial expertise from her tenure at Baidu and eLong, having been deeply involved in iQIYI’s 2018 IPO. iQIYI remains strategically anchored by its controlling shareholder, Baidu, which holds approximately 45% of the company and provides critical AI and infrastructure support. The Board of Directors includes notable figures such as Baidu CEO Robin Li, reflecting the platform's integral role within the broader Baidu ecosystem alongside other institutional investors like Xiaomi and T. Rowe Price.