Chinese Netflix-style video streaming platform iQIYI
, backed by Baidu
, announced its second quarter financial results today.
Accodring to the report, its total revenues reached CNY 7.4 billion, representing a year-on-year increase of 4%. Membership services revenue was CNY 4.0 billion, a year-on-year increase of 19%. Online advertising services revenue decreased 28% to CNY1.6 billion compared to the same period in 2019.Content distribution revenue was CNY 860.6 million, representing a year-on-year increase of 66%.