iQIYI Launches Livestream E-Commerce Platform Amid Revenue Decline
Chinese streaming giant iQIYI has officially entered the e-commerce sector by launching a new livestream shopping platform. Announced by CEO Gong Yu at the 2025 iQIYI World Conference on April 23, this initiative aims to leverage the company's extensive library of intellectual property and celebrity talent to create an extended content ecosystem. The strategic pivot comes as iQIYI faces significant financial headwinds, with its 2024 revenue dropping 8% year-over-year to RMB 29.23 billion and net income plunging 60% to RMB 764 million. Both subscription and advertising revenues declined, reflecting broader industry challenges. Although iQIYI previously explored livestream e-commerce concepts in 2020, this launch represents its most structured and serious attempt to integrate entertainment with commerce. The company bets that tapping into China's booming livestream economy will provide a crucial revenue boost to offset stagnating traditional income streams. This move highlights a growing trend among digital media platforms to diversify monetization strategies beyond subscriptions and ads in response to market saturation and economic pressure.
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iQIYI Launches Livestream E-Commerce Platform Amid Revenue Decline
Chinese streaming giant iQIYI has officially entered the e-commerce sector by launching a new livestream shopping platform. Announced by CEO Gong Yu at the 2025 iQIYI World Conference on April 23, this initiative aims to leverage the company's extensive library of intellectual property and celebrity talent to create an extended content ecosystem. The strategic pivot comes as iQIYI faces significant financial headwinds, with its 2024 revenue dropping 8% year-over-year to RMB 29.23 billion and net income plunging 60% to RMB 764 million. Both subscription and advertising revenues declined, reflecting broader industry challenges. Although iQIYI previously explored livestream e-commerce concepts in 2020, this launch represents its most structured and serious attempt to integrate entertainment with commerce. The company bets that tapping into China's booming livestream economy will provide a crucial revenue boost to offset stagnating traditional income streams. This move highlights a growing trend among digital media platforms to diversify monetization strategies beyond subscriptions and ads in response to market saturation and economic pressure.
TechNode