iQIYI

Corporate brand

A major Chinese online entertainment and streaming-video platform built around licensed and original films, series, variety programs, anime and membership services.

Last updated November 1, 2026

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Overview

iQIYI is a Beijing-based online entertainment company and one of China’s best-known streaming-video services. Established in 2010 with Baidu backing, the platform began primarily as an ad-supported distributor of licensed television and film content. It later developed into a broad entertainment ecosystem combining subscription video-on-demand, advertising, original production, content licensing, film and television distribution, technology services, and international streaming. The service offers Chinese and international films, television dramas, variety programs, animation, documentaries, short-form productions and children’s programming. Its free, advertising-supported offering operates alongside paid VIP memberships, which provide access to premium or early-release content, reduced advertising and additional viewing features. The company has also used genre-oriented programming and branded content groupings to organize its original dramas, including romance, suspense, comedy and literary-adaptation categories. Signature productions and franchises have helped iQIYI compete for attention with Tencent Video, Youku and other Chinese digital platforms. A major turning point came in 2013, when Baidu combined iQIYI with PPS Video. The transaction expanded iQIYI’s mobile reach, user base and distribution capabilities and strengthened its position in China’s increasingly competitive online-video market. During the following years, the company moved beyond licensed distribution and invested heavily in proprietary dramas, variety shows, films and other intellectual property. This original-content strategy gave iQIYI greater control over programming and created opportunities for advertising, memberships, merchandising, licensing and international distribution, although it also exposed the company to high production and content-acquisition costs. The company expanded its business beyond a single website and mobile application. Its services have been distributed through smartphones, personal computers, connected televisions and other large-screen devices, while iQIYI International has made selected Chinese-language entertainment available to audiences outside mainland China through international websites and applications. Advertising products include opening-screen placements, pre-roll and in-feed formats, sponsored programming, integrated brand campaigns and customized content partnerships. In March 2018, iQIYI completed a NASDAQ initial public offering under the ticker IQ. The listing provided capital for content development, technology and general corporate purposes while leaving Baidu as its controlling shareholder. In subsequent years, iQIYI emphasized operational efficiency, premium membership, original productions, advertising monetization and technological tools such as recommendation systems and artificial-intelligence-assisted production and distribution. The brand remains active as a major Chinese streaming and online-entertainment service, with its commercial performance shaped by content popularity, subscription economics, advertising demand, regulation and competition for exclusive programming.

History

iQIYI was established in 2010 in Beijing as an online-video venture backed by Baidu. Its early proposition centered on professionally produced Chinese television and film content delivered through the internet, initially using a largely free, advertising-supported model. The business entered a crowded market in which platforms competed for licensed programming, traffic, advertising budgets and increasingly valuable mobile users. The company adopted the iQIYI name in 2011 as it developed a more distinct consumer identity. In 2013, Baidu acquired and merged PPS Video into iQIYI. The combination expanded the platform’s audience and mobile distribution and helped it compete more effectively with other major Chinese video services. The integration also gave iQIYI a larger base from which to sell advertising and promote paid content. Over the middle part of the decade, iQIYI shifted from being principally a distributor of licensed programming toward a vertically integrated entertainment business. It invested in original dramas, variety shows, films, animation and other proprietary productions, while continuing to license content from outside studios. The strategy was designed to strengthen exclusivity, improve control of release schedules and create reusable intellectual property. It also produced new revenue possibilities in memberships, advertising, distribution, licensing and related entertainment activities. The company broadened its corporate structure and activities through film, media, production and cinema-related entities. Its platform became available across mobile, PC and connected-TV environments. International distribution subsequently became a more visible part of the brand, with iQIYI International offering selected Chinese and Asian programming to overseas audiences through dedicated digital services and multilingual subtitles. In 2018, iQIYI completed its U.S. public listing on NASDAQ under the symbol IQ. Baidu remained the controlling shareholder after the offering. Capital from the listing supported content investment, technology development and general corporate needs. The public-company period brought increased attention to the cost of original programming, subscriber economics, advertising performance and the company’s path to sustainable profitability. In the 2020s, iQIYI continued to combine premium membership with free, advertising-supported viewing. It promoted recognizable drama and variety franchises, organized programming by genre, and developed advertising products ranging from conventional video placements to integrated sponsorship and customized programming. The company also emphasized recommendation technology, artificial intelligence and more efficient content production and distribution. Its international activity has particularly targeted audiences interested in Chinese-language dramas, romance series, variety entertainment and anime. Today, iQIYI remains an active Chinese online-entertainment brand. Its position depends on maintaining a steady pipeline of compelling original and licensed content while balancing subscription prices, advertising monetization, production costs, platform regulation and competition from Tencent Video, Youku and other streaming services.

2021
International Sweet On promotion
[7]iQiyi’s prowess in Asian and Chinese content and advertisingmarketing-interactive.com
iQIYI promotes its Sweet On romance-content collection to international audiences, with coverage reporting strong global viewing for the collection.
2018
NASDAQ IPO
[2]iQIYI, Inc. Initial Public Offering and NASDAQ Listingdavispolk.com
iQIYI lists on NASDAQ under IQ through an offering of American depositary shares.
2013
PPS Video is combined with iQIYI
[3]iQIYI Form F-1 registration statementsec.gov
Baidu’s acquisition and combination of PPS Video expands iQIYI’s audience, mobile distribution and competitive scale.
2011
Brand becomes iQIYI
[1]iQIYI official websiteiqiyi.com
The service adopts the iQIYI brand as it develops its consumer-facing online-video business.
2010
Qiyi.com is established
[3]iQIYI Form F-1 registration statementsec.gov
The online-video service that became iQIYI begins operations in China with Baidu backing.

Products and positioning

A premium-plus-ad-supported Chinese online entertainment platform combining mass-market video distribution with original content, technology and international Chinese-language programming.

Streaming service · 2010
iQIYI online video platform
The core service provides on-demand films, television dramas, variety shows, anime, documentaries, short-form programming and other professionally produced video. It combines free, advertising-supported access with premium programming and platform features for paying members. Distribution spans mobile applications, web browsers, personal computers and connected-TV or other large-screen environments.
Subscription service
iQIYI VIP
The VIP membership program gives subscribers access to premium or early-release content and additional viewing benefits. It operates alongside the free service and is central to iQIYI’s subscription-led monetization model, with value driven by exclusive dramas, variety programs, films and other premium programming.
International streaming service
iQIYI International
The international service distributes selected Chinese and Asian dramas, films, variety programs and anime outside mainland China through international digital channels. Its programming is supported by subtitles and localized distribution, with particular emphasis on audiences in Southeast Asia and other markets interested in Chinese-language entertainment.
Digital advertising
iQIYI advertising solutions
The advertising business offers opening-screen, pre-roll, in-feed, banner, takeover, sponsorship and integrated-content formats. Advertisers can reach free and, in some placements, VIP audiences through standard media buys or campaigns connected to iQIYI programs and entertainment properties.

Controversies

2026
Mengniu apologizes over milk-waste backlash
Mengniu apologized after its Youth With You 3 marketing campaign encouraged purchases of bottled milk for contestant voting, prompting fans to discard milk and criticism of the campaign. iQIYI also apologized and said it took responsibility for the programme's rules and their effects.
Source
2021
Court rejects appeal in iQIYI viewing-records privacy case
The Shanghai No. 2 Intermediate People's Court rejected Wu Shengwei's appeal and upheld the lower court's judgment. According to the court, iQIYI and the law firm submitted and displayed his login and viewing records during a closed pretrial meeting in order to support their case. The court found no subjective fault and no infringement of another person's rights.
Source
2021
Court orders Wuxi Cable Network branch to pay iQIYI 10,000 yuan
In an information-network dissemination rights dispute, the Beijing Internet Court ruled that a Wuxi branch of Jiangsu Broadcasting Cable Information Network had infringed iQIYI's rights by providing the drama "Untouchable Lovers" for online viewing without authorization, and ordered the branch to pay 10,000 yuan in economic losses. The defendant had argued that the service had not been substantively promoted or launched and disputed iQIYI's claim.
Source
2021
Court rules iQIYI infringed LeTV's online transmission rights
The Beijing Internet Court found that iQIYI provided online playback of works without the rights holder's permission, infringing LeTV's information network dissemination rights, and ordered iQIYI to pay LeTV 50,000 yuan in economic losses within seven days after the judgment took effect.
Source
2021
Beijing authorities fine Youku and iQIYI
Beijing cultural market enforcement authorities fined Youku and iQIYI 90,000 yuan each after investigating violations by the video platforms.
Source
2021
Court ruled for iQIYI in fake-traffic competition case
A Beijing court ruled that two defendants had engaged in unfair competition by manipulating likes, followers, and video views on iQIYI's website, ordering them to stop the conduct and pay iQIYI 625,000 yuan for losses and reasonable expenses.
Source
2020
iQIYI responds to Wolfpack Research short report
iQIYI said it had reviewed Wolfpack Research's short report, published on April 7, 2020, and characterized it as containing erroneous and unverified statements and misleading conclusions about the company. The report was described as alleging that iQIYI overstated revenue and subscriber numbers; the article does not establish those allegations as fact.
Source
2020
iQIYI responds to short-seller allegations
In April 2020, the short-selling firm Wolfpack Research published a report alleging that the Chinese video platform iQIYI had exaggerated its revenue and subscriber numbers. iQIYI responded to the allegations by stating that the data and conclusions cited in the report were seriously inaccurate and inconsistent with the actual circumstances. The company's response disputed the report's claims without further detail in the provided source. The event centers on the public exchange between the short-seller and iQIYI over the accuracy of the report's assertions regarding the company's reported financial and subscriber metrics.
Source
2020
iQIYI apologizes over Qixiu Live content and announces update suspension
iQIYI issued an apology concerning Qixiu Live, stating that a technical issue had caused adverse social impact. The company said that, starting from midnight on April 6, Qixiu Live would stop content updates while it carried out technical upgrades. The statement did not specify the nature of the technical issue or the content involved, nor did it announce any further measures or outcomes beyond the suspension and upgrade work.
Source
2020
Court upholds ruling in iQIYI IPTV copyright case
The Beijing Intellectual Property Court upheld a ruling that Hebei Unicom and iTV Media had infringed iQIYI's information network dissemination rights by providing episodes of three dramas through an IPTV replay service without authorization. The ruling awarded iQIYI damages of RMB 50,000 to RMB 100,000 per work, plus reasonable expenses.
Source

Marketing campaigns

2021Family
China
Created by F5 Shanghai, Family was a business-to-business film campaign explaining the advantages of iQIYI’s smart-TV advertising environment, including audience data and communication benefits for brand advertisers.
Source
2021Sing A Wrong The Song Is Right
Thailand
Yell Advertising developed a humorous music-led campaign to help Thai audiences remember and pronounce the iQIYI name, addressing a local brand-recognition challenge.
Source
2021Sweet On international content collection
Southeast Asia · International markets
iQIYI promoted a romance-focused content collection featuring Chinese-language entertainment to international audiences and advertisers.
Outcome. Marketing coverage reported more than 59 million views for the collection and strong launch-week user growth associated with the drama Love is Sweet.
Source
#iQIYIWithYou TikTok Hashtag Challenge
Thailand · Malaysia · Indonesia · Philippines · Vietnam
iQIYI used a TikTok hashtag challenge, local creators and paid social amplification to increase awareness of its Asian-oriented programming and strengthen its Southeast Asian presence.
Outcome. The campaign was reported as an award-winning initiative that increased brand awareness and engagement, although the cited case study does not provide independently verified numerical results.
Source

Brand decisions

2018
NASDAQ public offeringOther
Background
The company sought additional capital to expand content, improve technology and support its development as a public online-entertainment company.
Action taken
iQIYI issued American depositary shares on NASDAQ under the symbol IQ.
Aftermath
iQIYI became publicly traded while Baidu continued as its controlling shareholder.
IPO gross proceeds. US$2.25 billion (March 2018)
Source
2013
Combination with PPS VideoM&A
Background
iQIYI needed greater scale in mobile video distribution and a stronger competitive position in China’s online-video market.
Action taken
Baidu acquired PPS Video and combined its operations with iQIYI.
Aftermath
The transaction expanded iQIYI’s audience, mobile reach and distribution capabilities.
Source
Expansion of original productionsStrategy
Background
Reliance on licensed programming exposed the platform to content costs, availability constraints and competition for exclusive rights.
Action taken
iQIYI increased investment in proprietary dramas, films, variety shows, animation and related intellectual property.
Aftermath
Original content became a central part of the membership, advertising and international-distribution strategy, while increasing the financial risk associated with production spending.
Source

Recent events

Unconfirmed
Mengniu apologizes over milk-waste backlash[20]Mengniu apologizes over milk-waste backlashmarketing-interactive.com
Reported: 2026-10-30
Mengniu apologized after its Youth With You 3 marketing campaign encouraged purchases of bottled milk for contestant voting, prompting fans to discard milk and criticism of the campaign. iQIYI also apologized and said it took responsibility for the programme's rules and their effects.
2026-10-24
AIGC creative centers established in Guangzhou[34]AIGC创意中心落地广州finance.sina.com.cn
Reported: 2026-10-24
Two content-production centers, the iQIYI AIGC (Greater Bay Area) Creative Center and the China Mobile–Migu AIGC (Greater Bay Area) Creative Center, were established in Guangzhou.
2026-08-18
iQIYI reports Q2 2026 unaudited financial results[35]爱奇艺发布2026年第二季度未经审计财报163.com
Reported: 2026-08-18
iQIYI released its unaudited second-quarter 2026 financial results for the period ended June 30, 2026, reporting total revenue of RMB 6.29 billion, a 1% sequential increase, and a Non-GAAP operating loss of about RMB 30.3 million, narrowing from RMB 150 million in the prior quarter. Net cash inflow from operating activities was RMB 340 million, compared with a net outflow of RMB 12.7 million in the same period of 2025, and cash, cash equivalents, short-term restricted funds and short-term investments totaled about RMB 4.12 billion as of June 30.
2022-01-28
iQIYI partners with FAW-Volkswagen for in-car app distribution[36]爱奇艺与一汽-大众合作推出车机应用下载服务itbear.com.cn
iQIYI announced a partnership with FAW-Volkswagen to offer downloads of the app in the ID. family electric vehicles' in-car app store starting January 28.
Unconfirmed
iQIYI workforce reduction reported[37]爱奇艺被曝裁员biz.jrj.com.cn
A report said iQIYI would cut 20%–40% of its workforce across multiple business departments and studios; the article says a company insider confirmed the layoffs to the reporter.
Unconfirmed
iQIYI conducts large-scale layoffs[38]爱奇艺进行大规模裁员finance.sina.com.cn
Reported: 2021-12-01
A report citing multiple iQIYI employees and insiders said the company was conducting a large-scale round of layoffs, affecting multiple departments and including some departments that were almost entirely cut.
2021-12-01
iQIYI launches Qiyu Dream VR headset[39]爱奇艺推出奇遇Dream VR一体机finance.sina.com.cn
Reported: 2021-12-01
At an iQIYI VR product launch event, the company introduced the Qiyu Dream VR device. The article reports a price of 1999 yuan and describes its specifications and features.
Unconfirmed
iQIYI ends Taiwan agency partnership[40]爱奇艺结束台湾代理合作taihai.fjsen.com
iQIYI decided not to renew its agreement with Taiwan agent OTT Entertainment when the contract expires at the end of the year, ending the business cooperation.
2021-10-15
iQIYI cancels advance on-demand viewing[41]爱奇艺取消超前点播finance.sina.com.cn
Reported: 2021-10-15
iQIYI founder Gong Yu said the service cancelled advance on-demand viewing because members were dissatisfied, rather than in response to pressure from regulators. He said the company was willing to bear the cost to improve member satisfaction.
2021-10-04
iQIYI cancels episode early access and member-only promotional clips[42]爱奇艺取消剧集超前点播和会员可见的宣传贴片ent.sina.com.cn
Reported: 2021-10-04
iQIYI announced that, effective that day, it was cancelling early access to episodes and promotional clips visible to members.

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