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iQIYI is one of China’s largest online video platforms, offering premium TV series, movies, variety shows, and originals. While it’s often compared to Netflix, iQIYI operates a hybrid model that blends paid membership, advertising, and content distribution, with viewing heavily shaped by blockbuster drama releases and major entertainment cycles.
Because iQIYI’s “user” metrics can be reported in different ways (subscribers vs. MAU/DAU vs. app installs), the most reliable approach is to use: (1) audited annual financial results for scale and profitability, and (2) clearly labeled, dated “user/subscriber” benchmarks from company disclosures.
Answer box: iQIYI’s latest full-year results (FY2024, ended Dec. 31, 2024) show RMB29.23B in revenue and RMB764.1M in net income attributable to iQIYI. Membership services brought in RMB17.76B (the largest revenue line), and iQIYI generated RMB2.03B in free cash flow. For a more recent pulse, iQIYI reported RMB6.68B revenue in Q3 2025. The most recently disclosed subscriber benchmark in company releases shows average daily subscribing members rising from 98.3M (Q2 2022) to 111.2M (Q2 2023).
Key metrics table (latest available)
Annual financials are for the year ended December 31. Quarterly figures are shown separately and labeled by quarter.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total revenue | RMB6.68B (Q3 2025) | RMB29.23B (FY) | RMB31.87B (FY) |
| Net income (loss) attributable to iQIYI | (RMB248.9M) (Q3 2025) | RMB764.1M (FY) | RMB1.93B (FY) |
| Operating income | (RMB121.8M) (Q3 2025) | RMB1.81B (FY) | RMB2.99B (FY) |
| Operating cash flow | — | RMB2.11B (FY) | RMB3.35B (FY) |
| Free cash flow | — | RMB2.03B (FY) | RMB3.31B (FY) |
Revenue mix (what iQIYI sells)
iQIYI’s business is primarily driven by paid membership, with advertising and distribution as additional pillars.
| Revenue line | FY2024 | YoY note |
|---|---|---|
| Membership services | RMB17.76B | Down 13% vs 2023 |
| Online advertising services | RMB5.71B | Down 8% vs 2023 |
| Content distribution | RMB2.85B | Up 16% vs 2023 |
| Other revenue | RMB2.90B | Up 1% vs 2023 |
How many people use iQIYI?
iQIYI’s “usage” can mean different things:
- Subscribers/members: A company release cited average daily subscribing members rising from 98.3M (Q2 2022) to 111.2M (Q2 2023).
- MAU/DAU: Older, still-useful historical benchmarks include iQIYI’s reported 454.5M mobile MAUs (2019) and 135.4M mobile DAUs (2019), plus time-spent metrics like 1.6 hours/day per user and 9.4B hours/month (2019).
FAQ
How many subscribers does iQIYI have?
iQIYI has reported subscriber counts at different times, but it has not consistently published a single always-updated subscriber KPI in every recent quarterly release. One company disclosure stated average daily subscribing members increased from 98.3M (Q2 2022) to 111.2M (Q2 2023).
How much revenue does iQIYI make?
For FY2024, iQIYI reported RMB29.23B in revenue. In Q3 2025, iQIYI reported RMB6.68B in revenue.
Is iQIYI profitable?
Yes in FY2024 on a GAAP basis: net income attributable to iQIYI was RMB764.1M. However, results can swing quarter-to-quarter; iQIYI reported a net loss of RMB248.9M in Q3 2025.
What is iQIYI’s main source of revenue?
Membership services are the largest revenue line. In FY2024, membership services revenue was RMB17.76B, far ahead of advertising and distribution.
What are iQIYI’s historical MAU/DAU stats?
A 2019 investor filing reported 454.5M mobile MAUs and 135.4M mobile DAUs, plus time-spent benchmarks like 1.6 hours/day per user and 9.4B hours/month.
