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iQiyi, Chinese Video Streamer, Profits Halved in Third Quarter
Chinese video streaming group iQiyi incurred setbacks in subscriptions and advertising, but was able to improve its content sales.
Chinese video streaming group iQiyi incurred setbacks in subscriptions and advertising, but was able to improve its content sales, leading to a July to September quarter that was down in revenue and profit terms. “In the third quarter of 2024, we topped the industry in the drama series market share, according to Enlightent data,” said Gong Yu, CEO of iQiyi. “We have recently elevated our entertainment offerings and services with strategic enhancements, integrating sought-after mini and short dramas to complement our extensive long-form content portfolio.
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