The following is a summary of the IQIYI, Inc. (IQ) Q3 2024 Earnings Call Transcript:

Financial Performance:

• iQIYI reported a total revenue of RMB7.2 billion for Q3 2024, which is a 10% decline year-over-year.

• Membership services revenue declined 13% annually to RMB4.4 billion.

• Online advertising revenue decreased by 20% year-over-year to RMB1.3 billion.

• Content distribution revenue grew 52% annually to RMB814 million.

Business Progress:

• iQIYI emphasized its strategic pivot towards integrating mini and short dramas into its content offerings to adapt to evolving market trends and consumer preferences.

• The company optimized its membership services, introducing a family account option to enhance user experience and conversion.

• Advanced AI applications have been leveraged to improve business efficiency, including plot tag generation and actor matching for roles.

Opportunities:

• The introduction of mini and short dramas is considered an opportunity to harness a growing popularity trend and to introduce a unique content mix that appeals to diverse viewer preferences.

Risks:

• Ongoing macroeconomic headwinds and a diverse range of entertainment options are noted as potential risks impacting user spending and attention.

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