[ad_1]
(China Day by day) iQIYI, a number one supplier of on-line leisure video companies in China, introduced on Wednesday its monetary outcomes for the fourth quarter and monetary yr ending on December 31, 2023.
Unaudited monetary outcomes present that the Nasdaq-listed firm’s whole revenues in 2023 have been 31.9 billion yuan ($4.5 billion), up 10 % from 2022. Its internet revenue reached 1.9 billion yuan, marking an enormous improve as the corporate reported 136.2 million yuan in internet loss in 2022.
The corporate’s fourth-quarter income reached 7.7 billion yuan, up one % yr over yr. It raked in 466.2 million yuan in internet revenue, up 53 % yr over yr.
“Constructing on the momentum of an iconic turnaround in 2022, 2023 stood as our best-performing yr in company historical past. Key monetary metrics, together with whole revenues, working and internet revenue, and money flows, all hit historic highs. As well as, ARM (common income per membership) grew for 5 consecutive quarters, which mirrored the excessive attractiveness of our content material and the rising worth of our membership service,” mentioned Gong Yu, founder and chief govt officer of iQIYI, throughout his earnings name speech.
“I’m enthusiastic to witness our enterprise resilience and operational excellence,” he added.
2023 noticed the corporate’s membership companies income exceed 20 billion yuan, up 15 % yr over yr and remaining the most important income contributor, and the speedy development pushed by the will increase of each ARM and subscriber base, in keeping with the CEO.
The fourth quarter contributed 4.8 billion yuan in membership companies income and ARM hit a file excessive, reaching 15.98 yuan, up 13 % yearly and three % sequentially. The video-streaming big reported 101.1 million paying customers as of December 31, 2023.
Internet marketing companies, the corporate’s second-largest enterprise line, garnered annual income of 6.2 billion yuan in 2023, rising 17 % yr over yr. They generated 1.7 billion yuan in income within the fourth quarter, representing a year-on-year development of six %.
In accordance with the report, revenues generated by content material distribution and different sources reached 2.5 billion yuan and a pair of.9 billion yuan respectively in 2023. The 2 figures for the fourth quarter are 506 million yuan and 741 million yuan.
“Along with the satisfying income and revenue efficiency, our monetary well being additionally strengthened significantly as each working and free money flows exceeded 3.3 billion yuan in 2023,” commented Wang Jun, iQIYI’s chief monetary officer. “With that, we consider we’re on the correct path to generate long-term worth for our stakeholders.”
In accordance with Enlightent, an enormous information platform for the leisure business, iQIYI ranked #1 in drama viewership share for 3 consecutive years. In 2023, iQIYI broadcast seven out of the highest 10 most-viewed new dramas out there. Along with dramas, the enormous additionally dominated the web film streaming phase with a complete viewership share of 47 %.
“Our market share management is deeply rooted in our distinctive capability to provide authentic, premium content material,” Gong remarked. In 2023, greater than 65 % of key dramas launched by the platform have been its authentic productions, an annual file in its historical past.
Supply: chinadaily.com.cn | Up to date: 2024-02-29 14:41
[ad_2]
Source link
