Sequential Revenue Growth
Total revenues for the first quarter of 2025 were RMB7.2 billion, up 9% sequentially.
Strong Performance in Membership Services
Membership services revenue increased by 7% sequentially to RMB4.4 billion, driven by the success of long-form dramas.
Content Ecosystem Expansion
iQIYI expanded its micro drama portfolio to over 15,000 titles, seeing impressive growth in daily viewing time and unique visitors, with increases over 300% and 110% respectively.
International Revenue Growth
Revenues from regions outside of Mainland China increased by over 30% year-over-year, reaching a new high in the average daily number of subscribing members.
Debt Reduction and Financial Management
The outstanding principal balance of convertible bonds declined from RMB2.9 billion in Q1 2023 to RMB1.17 billion, resulting in a 30% reduction in net interest expense year-over-year.