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iQIYI launches content e-commerce amid revenue pressure, eyes livestreamshopping
Chinese streaming giant iQIYI has launched a livestream shopping platform amid financial struggles, aiming to leverage its content and celebrity portfolio. CEO Gong Yu announced this at the 2025 iQIYI World Conference, highlighting the venture as an extension of its content ecosystem despite an 8% revenue drop in 2024.
Key points
- iQIYI launched a livestream shopping platform to boost revenue amid financial pressure.
- CEO Gong Yu presented this initiative during the 2025 iQIYI World Conference.
- The company's 2024 revenue fell 8% to RMB 29.23 billion ($4.1 billion), with net income dropping 60%.
- Subscription and advertising revenues declined, indicating challenges within the industry.
- 2023 saw an average of 112 million daily subscribers; however, subscription growth was noted towards the end of 2024.
- This move represents iQIYI's most structured entry into livestream e-commerce after initial plans in 2020.
Why it matters
- The rise of e-commerce and livestream shopping is part of a growing trend in digital consumer behavior.
- Similar moves by competitors show that the blending of content creation and e-commerce could be pivotal for business sustainability.
- The increasing popularity of livestream economy in China positions iQIYI well despite its current financial challenges.
- The trend aligns with broader IT trends towards integrating entertainment and direct consumer engagement.
iQIYI's entry into livestream shopping amidst financial challenges indicates a strategic pivot towards integrating commerce with content, reflecting broader trends in digital engagement and the evolving landscape of e-commerce.