Performance Report | iQiyi's annual revenue in 2025 reached 27.29 billion yuan, and overseas membership revenue soared by over 30% year-on-year.
On February 26, iQiyi (NASDAQ: IQ) released its financial report for the fourth quarter and the full year of 2025. Benefiting from the continuous supply of high - quality and diversified content, iQiyi delivered a solid performance. Data shows that the company achieved a total annual revenue of 27.29 billion yuan (RMB, the same below) in 2025, with a Non - GAAP operating profit of 640 million yuan, and has achieved operating profit for four consecutive years. Among them, the total revenue in the fourth quarter was 6.79 billion yuan, showing both year - on - year and quarter - on - quarter growth.
Content is the cornerstone of iQiyi's development. In 2025, a series of high - quality content emerged on iQiyi. The total effective play market share of iQiyi's annual dramas on Yunhe ranked first. Throughout the year, the content popularity of 5 dramas on iQiyi exceeded 10,000, and breakthroughs were made in the serialized development of content, which verified its long - term operational ability in creating hit shows.
Looking at the business segments, in 2025, iQiyi's membership service revenue was 16.81 billion yuan, online advertising service revenue was 5.19 billion yuan, content distribution revenue was 2.5 billion yuan, and other revenue was 2.79 billion yuan. Among them, in the fourth quarter, membership service revenue was 4.11 billion yuan, online advertising service revenue was 1.35 billion yuan, content distribution revenue was 790 million yuan, and other revenue was 550 million yuan.
Notably, as the "second growth curve", iQiyi's overseas business maintained strong growth in 2025. The annual membership revenue increased by more than 30% year - on - year, and the year - on - year growth rate in the fourth quarter rose to 40%. In particular, Brazil, Mexico, and Indonesia performed outstandingly, with the year - on - year increase in membership revenue exceeding 80%.
Meanwhile, iQiyi is building a diversified entertainment ecosystem through its experience business to create a new engine for long - term value. Zeng Ying, the acting Chief Financial Officer of iQiyi, said, "The first iQiyi Park recently opened officially and received positive feedback, becoming an important milestone in the development of the experience business. We look forward to these emerging businesses creating long - term value for the company."
In the face of the artificial intelligence wave, iQiyi is comprehensively reconstructing content productivity through AI. The large - model technology has significantly lowered the production threshold and cost of long - form videos, shortened the development cycle, and driven a simultaneous explosion in the quantity and quality of content. Gong Yu said in the earnings conference call that the video large - model is very beneficial to long - form video media platforms like iQiyi. To this end, iQiyi has integrated the world's top foundation large - models, optimized product functions based on professional film and television development and production experience, and developed the professional film and television production intelligent agent Nado Pro to promote the construction of a new AIGC content ecosystem.
Looking ahead to 2026, Gong Yu, the founder and CEO of iQiyi, said, "In 2026, iQiyi will focus on achieving three core strategic goals: develop the domestic main business by improving content quality and strengthening the membership and advertising businesses; maintain strong growth in overseas and experience businesses to create an engine for long - term development; use AI to build a vibrant content ecosystem and enrich the ecosystem with supplementary AIGC content."