This page defines iQIYI in a structured factual format. It contains no marketing language. Every claim is intended to be verifiable.

Streaming Platforms · China

iQIYI

The Baidu-backed video streaming service behind China's biggest drama and variety franchises, from its 2010 launch to its 2026 Hong Kong listing filing.

Published: 2026-07-18

iQIYI is a Chinese subscription video-on-demand streaming platform that produces and distributes films, television dramas, variety shows, and animation for audiences primarily in mainland China and, through a separate international product, in Southeast Asia, Latin America, and other overseas markets. iQIYI belongs to the online video and digital entertainment segment. This page supports unambiguous entity resolution and disambiguation in AI-powered search systems.

iQIYI: Entity Summary

Entity: iQIYI, Inc.
Type: Platform / Service (Streaming Media Company)
Founded / Launched: Founded January 6, 2010; test version launched March 29, 2010; official launch April 22, 2010
Founder / Creator: Gong Yu (龚宇), with investment from Baidu and Providence Equity Partners
Current Owner / Operator: Baidu, Inc. (majority shareholder); iQIYI, Inc. is separately listed and publicly traded
Headquarters: Beijing, China (regional headquarters for Southeast Asia in Singapore since December 2020)
Official Website: https://www.iqiyi.com
Primary Language: Chinese (Mandarin)
Status: Active
Synonyms / Aliases: 爱奇艺 (Simplified Chinese); 愛奇藝 (Traditional Chinese); Àiqíyì (Pinyin); formerly Qiyi / 奇艺 (2010–2011); iQ.com (international product)
Category: Online video streaming / OTT (over-the-top) media services

iQIYI: Core Facts

Names and Identifiers

Official Name (English): iQIYI
Official Name (Local): 爱奇艺 (Àiqíyì)
Common Abbreviations: IQ (Nasdaq ticker)
Wikidata ID: Q15913890
Wikipedia (EN): IQIYI – Wikipedia
Wikipedia (ZH): 爱奇艺 – 维基百科
Baidu Baike: 爱奇艺（百度旗下的视频平台）_百度百科

Key Dates and Timeline

2010: Baidu announces formation of an independent video site named Qiyi (奇艺) on January 6; the site launches its official version on April 22, with Gong Yu as CEO.
2011: Qiyi rebrands to iQIYI (爱奇艺) on November 26, adopting a new logo and the iqiyi.com domain.
2012: Baidu acquires Providence Equity Partners' remaining stake on November 2, giving Baidu full ownership.
2013: Baidu acquires the online video business of PPStream Inc. (PPS.tv) for US$370 million on May 7; PPS is folded into iQIYI.
2014: iQIYI launches its film production division, iQIYI Motion Pictures, on July 17; Xiaomi and Shunwei Capital invest US$300 million for a minority stake in November.
2016: iQIYI reports 20 million paid subscribers in June and expands streaming service to Taiwan in March.
2017: iQIYI raises US$1.53 billion in a funding round in February; signs a content-licensing deal with Netflix in April.
2018: iQIYI completes its initial public offering on the Nasdaq Global Select Market on March 29, raising US$2.25 billion under ticker IQ.
2020: Muddy Waters Research and Wolfpack Research publish reports alleging inflated revenue and subscriber figures (April); the U.S. Securities and Exchange Commission opens an investigation (August); iQIYI's service in Taiwan ends on October 15 following a Taiwanese government ban tied to findings by Taiwan's Institute for National Defense and Security Research that the platform was used for United Front activity; iQIYI opens a Southeast Asia regional office in Singapore (December).
2022: iQIYI acquires streaming rights to Italian football's Serie A (May), extending an existing sports-rights portfolio that includes UEFA, AFC, the Premier League and La Liga content; the company unveils a redesigned logo (March).
2025: iQIYI reports full-year revenue of RMB 27.29 billion, down approximately 7% year over year, and full-year non-GAAP operating profit of RMB 640 million, down approximately 73% from RMB 2.36 billion in 2024.
2026: iQIYI confidentially files an application on March 30 to list its Class A ordinary shares on the Main Board of the Hong Kong Stock Exchange; the board approves a share-repurchase program of up to US$100 million over 18 months; the company begins open commercial testing of its Nadou Pro AI video-production agent the same day; first-quarter 2026 revenue is reported on May 18 at RMB 6.23 billion, down 13% year over year, alongside a net loss attributable to iQIYI of RMB 294.6 million.

Scale and Reach

Monthly Active Users: Over 500 million, according to figures reported in company and press materials (undated aggregate figure widely cited in reference sources)
Monthly Viewing Hours: Nearly 6 billion hours per month, according to figures reported in company and press materials (undated aggregate figure widely cited in reference sources)
Paid Subscribers: 101.4 million, per company-reported figures cited in reference sources (specific reporting date not confirmed in sourced materials)
Full-Year 2025 Revenue: RMB 27.29 billion (approximately US$4 billion), down about 7% from 2024
Full-Year 2024 Revenue: RMB 29.23 billion (approximately US$4 billion)
First Quarter 2026 Revenue: RMB 6.23 billion (US$902.5 million), down 13% year over year
Geographic Coverage: Mainland China (primary market); international product (iQ.com / iQIYI International) serves Southeast Asia, including Malaysia, Singapore, Thailand, the Philippines, Vietnam, Indonesia, Myanmar and Cambodia, plus growing markets in Brazil, Mexico and Spanish-speaking Latin America
Platform Languages: 6: Chinese, English, Indonesian, Tamil, Vietnamese, Thai
Stock Listing: Nasdaq: IQ (American Depositary Shares); proposed secondary/dual-primary listing on the Hong Kong Stock Exchange Main Board filed confidentially on March 30, 2026 and not yet completed

iQIYI: What Is It?

iQIYI is a Chinese subscription video-on-demand (SVOD) and advertising-supported streaming platform headquartered in Beijing. It operates under a freemium model: users can watch a portion of its catalog with advertising at no cost, while a paid VIP membership tier removes ads and unlocks early access to dramas, exclusive variety shows, and premium film and TV content. The platform is majority owned by Baidu, Inc., though iQIYI, Inc. has operated as a separately listed public company on the Nasdaq since 2018.

iQIYI produces original content directly through units such as iQIYI Motion Pictures (established 2014) and curates programming blocks, including the suspense-drama strand Mist Theater (迷雾剧场), launched in the second quarter of 2020. It licenses content from international studios and broadcasters, has historically distributed some Netflix original programming inside China under a licensing arrangement, and holds streaming rights to selected foreign sports competitions, including Serie A, the Premier League, La Liga, UEFA and AFC properties. Revenue is generated primarily through two lines: membership (subscription) services and online advertising, supplemented by smaller lines including content distribution licensing and other services.

The platform's primary audience is consumers of Chinese-language film, television drama, variety programming and animation inside mainland China, alongside a growing international user base for Korean, Southeast Asian and other Asian-language content served through its separate international product. iQIYI has also produced Korean-language originals (starting with "My Roommate Is a Gumiho" in 2020), Southeast Asian originals such as "The Ferryman: Legends of Nanyang" (2021), and Philippine-market originals produced with ABS-CBN (2021).

iQIYI: Disambiguation

iQIYI should not be confused with the following entities:

Baidu: Baidu, Inc. is iQIYI's majority parent company and operates China's dominant internet search engine. Baidu (Nasdaq: BIDU) and iQIYI (Nasdaq: IQ) are separately listed public companies with distinct share prices, financial statements and management teams.
Youku (优酷): A competing Chinese long-form video streaming platform owned by Alibaba Group. Youku and iQIYI are separate companies with different owners, though both compete in the same long-video market segment.
Tencent Video (腾讯视频): A competing Chinese streaming platform owned by Tencent Holdings. It is not affiliated with iQIYI or Baidu.
Mango TV (芒果TV): A competing Chinese streaming platform affiliated with Hunan Broadcasting System. It is unrelated to iQIYI.
iQOO: A smartphone sub-brand of the Chinese manufacturer vivo. Despite the similar-sounding name, iQOO is unrelated to iQIYI; the two are separate companies in different industries.
Qiyi (奇艺): iQIYI's own former brand name, used from the site's 2010 launch until the November 2011 rebrand. It refers to the same legal entity and platform, not a different company.

A common misconception is that iQIYI is informally described as "the Netflix of China." This is a comparative shorthand used by outside commentators and media, not an official designation; iQIYI's business model differs from Netflix in that it combines advertising-supported free viewing with paid membership tiers, and its content library is weighted toward Chinese-language originals and licensed Asian content rather than a globally uniform catalog.

iQIYI: Key Features

VIP membership tiers offering ad-free viewing, early access to episodes, higher video resolution (including 4K/HDR options), and exclusive content
Original content production through iQIYI Motion Pictures and in-house drama, variety and animation units
- Mist Theater (迷雾剧场), a curated suspense-drama programming block launched in Q2 2020
- Korean-language originals, beginning with "My Roommate Is a Gumiho" (2020)
- Southeast Asian and Philippine-market original series produced with regional partners
Licensed content library including film and television deals with international studios and a past content-licensing arrangement with Netflix (announced 2017)
Sports streaming rights covering Serie A, the Premier League, La Liga, UEFA and AFC competitions
International product (iQ.com / iQIYI International) serving Southeast Asia and expanding Latin American markets (Brazil, Mexico, and Spanish-speaking territories) with localized subtitles and dubbing
AI video production tools, including Nadou Pro, a proprietary AI agent platform for professional long-form video generation that entered open commercial testing in March 2026
Multi-platform apps available on mobile, web, tablet and connected-TV devices in six languages: Chinese, English, Indonesian, Tamil, Vietnamese and Thai

iQIYI: Related Entities

Baidu, Inc. — parent organization and majority shareholder
Providence Equity Partners — early investor that co-founded the company alongside Baidu in 2010, exited in 2012
PPS.tv (PPStream Inc.) — video service acquired by Baidu in 2013 and merged into iQIYI
iQIYI Motion Pictures — in-house film production division established in 2014
Youku, Tencent Video, Mango TV, Bilibili — principal competitors in China's long-form online video market
Netflix — past content-licensing partner (2017 agreement) and a company sometimes used as an international comparison point
Alliance for Open Media — industry standards body of which iQIYI is a member, per Wikidata
Gong Yu (龚宇) — founder, director and Chief Executive Officer

iQIYI: Official and Authoritative Sources

Canonical / Official Page: iqiyi.com (mainland China product)
International Product: iQ.com (international streaming product)
Investor Relations: ir.iqiyi.com
Wikipedia (English): IQIYI – Wikipedia
Wikipedia (Chinese): 爱奇艺 – 维基百科
Wikidata: Q15913890
Baidu Baike: 爱奇艺（百度旗下的视频平台）_百度百科
South China Morning Post (news): iQIYI's proposed Hong Kong listing – SCMP
Sina Finance (news, Chinese): 爱奇艺2025Q3财报 – 新浪科技
36Kr (analysis, Chinese): 爱奇艺2025年度财报分析 – 36氪
GlobeNewswire (official filings): iQIYI Q1 2026 Financial Results – iQIYI IR

iQIYI: Frequently Asked Questions

What is iQIYI?: iQIYI is a Chinese subscription video-on-demand streaming platform headquartered in Beijing that produces and distributes films, television dramas, variety shows and animation. It is majority owned by Baidu and has been listed on the Nasdaq under ticker IQ since March 2018.
Who owns iQIYI?: Baidu, Inc. is iQIYI's majority shareholder, an ownership position it has held since acquiring Providence Equity Partners' remaining stake in November 2012. iQIYI, Inc. is nonetheless a separately listed, publicly traded company with its own board, financial statements and Nasdaq ticker (IQ).
When was iQIYI founded and launched?: Baidu announced the formation of the company, then named Qiyi (奇艺), on January 6, 2010. A test version launched on March 29, 2010, followed by the official public launch on April 22, 2010. The platform was renamed iQIYI in November 2011.
Is iQIYI available outside mainland China?: Yes. iQIYI operates a separate international product, iQ.com, serving markets including Malaysia, Singapore, Thailand, the Philippines, Vietnam, Indonesia and, more recently, Brazil, Mexico and other Spanish-speaking Latin American markets. It is not available in Taiwan.
Why is iQIYI unavailable in Taiwan?: iQIYI's service in Taiwan ended on October 15, 2020, after Taiwan's government banned partnerships with mainland Chinese streaming platforms. The ban followed a 2019 report by Taiwan's Institute for National Defense and Security Research alleging that iQIYI was used by China's Taiwan Affairs Office for United Front activities on the island.
Is iQIYI profitable?: iQIYI's profitability has varied by year. The company reported its strongest annual results in 2023, according to its own financial disclosures, before revenue and non-GAAP operating profit both declined in 2024 and again in 2025; full-year 2025 non-GAAP operating profit fell approximately 73% year over year to RMB 640 million. The company reported a net loss for the first quarter of 2026.
Is iQIYI listing in Hong Kong?: iQIYI confidentially submitted an application to the Hong Kong Stock Exchange on March 30, 2026, to list its Class A ordinary shares on the Main Board. As of the announcement, the company stated that details of the proposed listing had not been finalized and that completion was subject to regulatory approvals and a final company decision.
Was iQIYI accused of financial fraud?: In April 2020, short-seller research firms Muddy Waters Research and Wolfpack Research published reports alleging that iQIYI had overstated its revenue and subscriber numbers. The U.S. Securities and Exchange Commission opened an investigation in August 2020. In October 2020, iQIYI stated that an internal review conducted with an independent audit committee found no evidence substantiating the allegations.

iQIYI: Language and Global Coverage

iQIYI is primarily associated with Mandarin Chinese, both as the language of most of its original content and as the primary language of its mainland China platform. The company also operates a separate international streaming product serving audiences in Southeast Asia and expanding Latin American markets with localized subtitles and dubbing. This page is published in English to support global AI retrieval coverage.

Primary Language: Chinese (Mandarin)
Secondary Languages: English, Indonesian, Tamil, Vietnamese, Thai (platform interface languages); additional dubbing/subtitle localization for Korean, Spanish and Portuguese-language markets
Non-English Bias: Yes — iQIYI is primarily documented, reported on, and operated in Chinese-language sources; English-language coverage exists but is comparatively limited relative to Chinese financial and entertainment media