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2021-05-25

IQiyi Financial Report: Why is it so difficult to make some money?

专注娱乐、兴趣长视频的爱奇艺，跌在了“饭圈”上。 5月6日晚，爱奇艺官方微博就“倒奶事件”发文致歉并宣布停播成团之夜、调整节目规则、取消打投通道。本是粉丝、偶像双向奔赴的美好故事，因爱奇艺疏忽中止了，

IQiyi Financial Report: Why is it so difficult to make some money?

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":138680576,"tweetId":"138680576","gmtCreate":1621933999495,"gmtModify":1704364692180,"author":{"id":3582715449264548,"idStr":"3582715449264548","authorId":3582715449264548,"authorIdStr":"3582715449264548","name":"SKng","avatar":"https://static.tigerbbs.com/e52e96a8730bf5558b24e3c5fb2ef030","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":7,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Hi</body></html>","htmlText":"<html><head></head><body>Hi</body></html>","text":"Hi","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/138680576","repostId":2138165945,"repostType":4,"repost":{"id":"2138165945","kind":"news","pubTimestamp":1621931258,"share":"https://ttm.financial/m/news/2138165945?lang=en_US&edition=fundamental","pubTime":"2021-05-25 16:27","market":"us","language":"zh","title":"IQiyi Financial Report: Why is it so difficult to make some money?","url":"https://stock-news.laohu8.com/highlight/detail?id=2138165945","media":"金融外参 ","summary":"专注娱乐、兴趣长视频的爱奇艺，跌在了“饭圈”上。\n5月6日晚，爱奇艺官方微博就“倒奶事件”发文致歉并宣布停播成团之夜、调整节目规则、取消打投通道。本是粉丝、偶像双向奔赴的美好故事，因爱奇艺疏忽中止了，","content":"Focus on entertainment and long videos of interest<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>, fell on the \"rice circle\".On the evening of May 6, iQiyi official<a href=\"https://laohu8.com/S/WB\">Weibo</a>I issued an apology for the \"milk pouring incident\" and announced the suspension of broadcasting the group night, the adjustment of the program rules and the cancellation of the voting channel. This is a beautiful story of fans and idols rushing in both directions, but it was stopped due to iQiyi's negligence. As soon as this news came out, the Internet was full of idolize's crusade for refunding, paying back and losing money.At this point, \"Youth with You 3\" has stopped broadcasting the contestants' flower path, and iQiyi has completely offended the \"fan circle\", which is equivalent to cutting off the \"fan economy\" financial path. Not only that, the \"Qing 3 accident\" also caused public anger in the market, and the price increase of iQiyi members was also discovered by netizens, and iQiyi's stock price fell in response.At the same time, iQiyi released its financial report for the first quarter of 2021. iQiyi, which has been established 11 years ago, is still struggling with profitability.01Continue to lose moneyIt's 2021, and iQiyi, which took the lead in proposing membership price increases, cannot escape the dilemma of losses. The specific financial report shows that iQiyi's revenue in the first quarter was 8 billion yuan, a year-on-year increase of 4%, and the market expected 7.674 billion yuan; The net loss was 1.3 billion yuan, compared with a loss of 2.9 billion yuan in the same period last year, and the loss further narrowed.Among them, iQiyi's membership service revenue was 4.3 billion yuan. As of the end of March this year, the total number of iQiyi subscribed members was 105.3 million. In the first quarter, the number of subscribed members increased by 3.6 million, and the overall MAU in overseas markets increased by 77% compared with the previous quarter. Obviously, as iQiyi's main source of revenue, driving the growth of the number of members and continuously tapping the potential of member payment are still the focus of iQiyi's operations.In addition, the brand advertising industry has picked up and advertisers' brand investment budgets have increased. In the first quarter, iQiyi's advertising revenue achieved 1.9 billion yuan (about 292.5 million US dollars), a year-on-year increase of 25%. IQiyi officials also pointed out that the growth of advertising revenue is due to the recovery of the macro economy, and both brand advertising budgets and the number of brand advertisers have rebounded.Furthermore, this quarter, iQiyi's content distribution achieved revenue of 779.1 million yuan (approximately US $118.9 million), a year-on-year increase of 29%. Other revenue contributed 961.0 million yuan (approximately US $146.7 million) in the first quarter, an increase of 10% compared with the same period last year.Overall, iQiyi's many businesses showed a growth trend in the first quarter. However, due to its high dependence on the two major businesses of online advertising and paid membership, as well as the high cost of content and the \"one fish, eat more\" model in the exploratory stage, iQiyi It is difficult to achieve profitability in a short period of time.Public data on the Internet shows that from 2018 to 2020, iQiyi's online advertising business continued to decline; At the same time, the number of iQiyi members paid decreased. In 2020, the number of iQiyi members paid decreased by 4.95% year-on-year, while the slowdown in membership business growth or fluctuations in the number of retained members directly affected revenue.With heavy cost pressure and core business obstacles, iQiyi's profitability has become even weaker, almost stagnant. IQiyi's net losses from 2015 to 2020 were 2.575 billion yuan, 3.074 billion yuan, 3.737 billion yuan, 9 billion yuan, 10.3 billion yuan and 7 billion yuan respectively, and the cumulative losses in six years have exceeded 35 billion yuan.In short, both advertising business and membership payment require content support. What ultimately affects the development of iQiyi is the quality of content. Therefore, iQiyi is \"anxious\" at a time when content is scarce.02Lack of content leads to anxietyIn 2021, the dispute over long video copyrights has gradually come to an end. The opportunities for long video platforms to obtain high-quality copyrights through traditional channels are decreasing, and self-produced dramas have become a new choice for long video platforms. In addition, affected by the epidemic, the shooting of offline film and television dramas almost stagnated in 2020, and the number of high-quality film and television works decreased accordingly.According to iQiyi's internal analysis, the number of movies with a box office of over 100 million yuan launched in the SVOD mode in 2020 and January-April 2021 has dropped by about half compared with the same period in 2019. Among them, the number of overseas movies, mainly Hollywood movies, has dropped by more than half.Correspondingly, the cost of iQiyi's content has dropped. Financial report data shows that in the first quarter of 2021, iQiyi's revenue cost dropped by 10% compared with the same period in 2020, which was mainly due to the decline in content costs and bandwidth costs. Among them, content costs in the first quarter were 5.4 billion yuan (approximately US $829.6 million), a decrease of 8% compared with the same period in 2020.For iQiyi, high-quality content is the core competitiveness and the foundation of survival, so it is urgent to acquire and manufacture high-quality content. Gong Yu, founder, director and CEO of iQiyi, also gave clear instructions: \"Attracting paid members through high-quality content is still the\" lifeline \"of iQiyi.\"Judging from the two hit dramas \"Son-in-law\" and \"Little Shede\", iQiyi's original intention of making popular film and television dramas has not changed, and content costs still account for a relatively high proportion of operating costs and operating income. However, iQiyi has paid more attention to reducing costs and increasing efficiency. Neither \"Son-in-Law\" nor \"Little Shede\" have used traffic stars to attract traffic as before, which greatly reduces the production cost of film and television dramas.In addition, with the continuous improvement of users' requirements for the quality of film and television dramas, the probability of the \"big IP + big star\" mode to make explosive movies is decreasing, and it becomes more difficult for video platforms to make explosive movies and television movies.In the past, the combination of \"big IP + traffic stars\" had a high probability of explosion. However, as more and more traffic stars lost their appeal and big IP adaptations were criticized, how to create explosive film and television dramas has become a common \"heart disease\" of long video platforms, and iQiyi is no exception.Faced with the problem of explosion production, iQiyi chose the strategy of winning by quantity, and increased the probability of explosion by improving the quality and quantity of content. It is reported that iQiyi will have up to 33 movies released one after another in 2021 and 2022, and there are only many more animations, adaptations of popular novels, and children's content movies and television dramas.Today, the output of high-quality content is closely related to the membership payment rate, and the improvement of the quantity and quality of content and the publicity of film and television drama content all require the support of resources, funds, and manpower, which tests the comprehensive strength of the platform. As a leader in the domestic long video field, iQiyi needs to establish a strong enough content output ecosystem in order to maintain its leading position.03It's not easy to make money overseasWith the popularity of the Internet and the acceleration of the cultural output of film and television dramas, it is the general trend for domestic dramas to be broadcast overseas simultaneously. According to the data of SARFT, TV dramas are the most important program type in the international communication of Chinese TV programs at present, accounting for about 70% of the national TV program exports, and have been exported to more than 200 countries and regions around the world.In this scenario, iQiyi,<a href=\"https://laohu8.com/S/00700\">Tencent</a>Platforms such as video and bilibili have gone overseas to make money, constantly reclaiming the \"video wasteland\" in overseas markets.While promoting the overseas exploration process, iQiyi has maintained its leading edge. According to the financial report data, iQiyi's overall MAU in the first quarter of 2021 increased by 77% compared with the previous quarter, and the number of new downloads ranked among the TOP5 in many countries and regions in Southeast Asia, especially in countries and regions such as Thailand and Malaysia.Station B and Tencent Video are also accelerating the pace of going overseas, and the overseas long video market is no less intense than the domestic market.In terms of Tencent Video, since it announced the launch of WeTV in June 2019, and after it landed in Indonesia, the Philippines, Malaysia and other countries and regions, it announced again in February 2020 that it has entered many countries and regions such as Indonesia, Vietnam, India, and Malaysia, which highly coincides with iQiyi's exit to Haiti.Similarly, in December 2020, some media broke the news that Bilibili (referred to as \"Bilibili\") had released local language versions in Thailand and Malaysia. In response, Station B responded: \"The App is<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>The official independent application released in Southeast Asia \"confirmed the rumors that Station B entered the Southeast Asian market.Of course, in addition to fighting against strong enemies in the overseas video market, iQiyi also needs to deal with cultural differences, policies and regulations of various countries, and the pressure of local video platforms. In other words, there is a lot of room for growth in overseas markets and many unknown challenges. iQiyi has a long way to go to conquer overseas markets.","source":"lsy1606712527231","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IQiyi Financial Report: Why is it so difficult to make some money?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIQiyi Financial Report: Why is it so difficult to make some money?\n</h2>\n<h4 class=\"meta\">\n\n金融外参 2021-05-25 16:27\n\n</h4>\n</header>\n<article>\nFocus on entertainment and long videos of interest<a href=\"https://laohu8.com/S/IQ\">IQiyi</a>, fell on the \"rice circle\".On the evening of May 6, iQiyi official<a href=\"https://laohu8.com/S/WB\">Weibo</a>I issued an apology for the \"milk pouring incident\" and announced the suspension of broadcasting the group night, the adjustment of the program rules and the cancellation of the voting channel. This is a beautiful story of fans and idols rushing in both directions, but it was stopped due to iQiyi's negligence. As soon as this news came out, the Internet was full of idolize's crusade for refunding, paying back and losing money.At this point, \"Youth with You 3\" has stopped broadcasting the contestants' flower path, and iQiyi has completely offended the \"fan circle\", which is equivalent to cutting off the \"fan economy\" financial path. Not only that, the \"Qing 3 accident\" also caused public anger in the market, and the price increase of iQiyi members was also discovered by netizens, and iQiyi's stock price fell in response.At the same time, iQiyi released its financial report for the first quarter of 2021. iQiyi, which has been established 11 years ago, is still struggling with profitability.01Continue to lose moneyIt's 2021, and iQiyi, which took the lead in proposing membership price increases, cannot escape the dilemma of losses. The specific financial report shows that iQiyi's revenue in the first quarter was 8 billion yuan, a year-on-year increase of 4%, and the market expected 7.674 billion yuan; The net loss was 1.3 billion yuan, compared with a loss of 2.9 billion yuan in the same period last year, and the loss further narrowed.Among them, iQiyi's membership service revenue was 4.3 billion yuan. As of the end of March this year, the total number of iQiyi subscribed members was 105.3 million. In the first quarter, the number of subscribed members increased by 3.6 million, and the overall MAU in overseas markets increased by 77% compared with the previous quarter. Obviously, as iQiyi's main source of revenue, driving the growth of the number of members and continuously tapping the potential of member payment are still the focus of iQiyi's operations.In addition, the brand advertising industry has picked up and advertisers' brand investment budgets have increased. In the first quarter, iQiyi's advertising revenue achieved 1.9 billion yuan (about 292.5 million US dollars), a year-on-year increase of 25%. IQiyi officials also pointed out that the growth of advertising revenue is due to the recovery of the macro economy, and both brand advertising budgets and the number of brand advertisers have rebounded.Furthermore, this quarter, iQiyi's content distribution achieved revenue of 779.1 million yuan (approximately US $118.9 million), a year-on-year increase of 29%. Other revenue contributed 961.0 million yuan (approximately US $146.7 million) in the first quarter, an increase of 10% compared with the same period last year.Overall, iQiyi's many businesses showed a growth trend in the first quarter. However, due to its high dependence on the two major businesses of online advertising and paid membership, as well as the high cost of content and the \"one fish, eat more\" model in the exploratory stage, iQiyi It is difficult to achieve profitability in a short period of time.Public data on the Internet shows that from 2018 to 2020, iQiyi's online advertising business continued to decline; At the same time, the number of iQiyi members paid decreased. In 2020, the number of iQiyi members paid decreased by 4.95% year-on-year, while the slowdown in membership business growth or fluctuations in the number of retained members directly affected revenue.With heavy cost pressure and core business obstacles, iQiyi's profitability has become even weaker, almost stagnant. IQiyi's net losses from 2015 to 2020 were 2.575 billion yuan, 3.074 billion yuan, 3.737 billion yuan, 9 billion yuan, 10.3 billion yuan and 7 billion yuan respectively, and the cumulative losses in six years have exceeded 35 billion yuan.In short, both advertising business and membership payment require content support. What ultimately affects the development of iQiyi is the quality of content. Therefore, iQiyi is \"anxious\" at a time when content is scarce.02Lack of content leads to anxietyIn 2021, the dispute over long video copyrights has gradually come to an end. The opportunities for long video platforms to obtain high-quality copyrights through traditional channels are decreasing, and self-produced dramas have become a new choice for long video platforms. In addition, affected by the epidemic, the shooting of offline film and television dramas almost stagnated in 2020, and the number of high-quality film and television works decreased accordingly.According to iQiyi's internal analysis, the number of movies with a box office of over 100 million yuan launched in the SVOD mode in 2020 and January-April 2021 has dropped by about half compared with the same period in 2019. Among them, the number of overseas movies, mainly Hollywood movies, has dropped by more than half.Correspondingly, the cost of iQiyi's content has dropped. Financial report data shows that in the first quarter of 2021, iQiyi's revenue cost dropped by 10% compared with the same period in 2020, which was mainly due to the decline in content costs and bandwidth costs. Among them, content costs in the first quarter were 5.4 billion yuan (approximately US $829.6 million), a decrease of 8% compared with the same period in 2020.For iQiyi, high-quality content is the core competitiveness and the foundation of survival, so it is urgent to acquire and manufacture high-quality content. Gong Yu, founder, director and CEO of iQiyi, also gave clear instructions: \"Attracting paid members through high-quality content is still the\" lifeline \"of iQiyi.\"Judging from the two hit dramas \"Son-in-law\" and \"Little Shede\", iQiyi's original intention of making popular film and television dramas has not changed, and content costs still account for a relatively high proportion of operating costs and operating income. However, iQiyi has paid more attention to reducing costs and increasing efficiency. Neither \"Son-in-Law\" nor \"Little Shede\" have used traffic stars to attract traffic as before, which greatly reduces the production cost of film and television dramas.In addition, with the continuous improvement of users' requirements for the quality of film and television dramas, the probability of the \"big IP + big star\" mode to make explosive movies is decreasing, and it becomes more difficult for video platforms to make explosive movies and television movies.In the past, the combination of \"big IP + traffic stars\" had a high probability of explosion. However, as more and more traffic stars lost their appeal and big IP adaptations were criticized, how to create explosive film and television dramas has become a common \"heart disease\" of long video platforms, and iQiyi is no exception.Faced with the problem of explosion production, iQiyi chose the strategy of winning by quantity, and increased the probability of explosion by improving the quality and quantity of content. It is reported that iQiyi will have up to 33 movies released one after another in 2021 and 2022, and there are only many more animations, adaptations of popular novels, and children's content movies and television dramas.Today, the output of high-quality content is closely related to the membership payment rate, and the improvement of the quantity and quality of content and the publicity of film and television drama content all require the support of resources, funds, and manpower, which tests the comprehensive strength of the platform. As a leader in the domestic long video field, iQiyi needs to establish a strong enough content output ecosystem in order to maintain its leading position.03It's not easy to make money overseasWith the popularity of the Internet and the acceleration of the cultural output of film and television dramas, it is the general trend for domestic dramas to be broadcast overseas simultaneously. According to the data of SARFT, TV dramas are the most important program type in the international communication of Chinese TV programs at present, accounting for about 70% of the national TV program exports, and have been exported to more than 200 countries and regions around the world.In this scenario, iQiyi,<a href=\"https://laohu8.com/S/00700\">Tencent</a>Platforms such as video and bilibili have gone overseas to make money, constantly reclaiming the \"video wasteland\" in overseas markets.While promoting the overseas exploration process, iQiyi has maintained its leading edge. According to the financial report data, iQiyi's overall MAU in the first quarter of 2021 increased by 77% compared with the previous quarter, and the number of new downloads ranked among the TOP5 in many countries and regions in Southeast Asia, especially in countries and regions such as Thailand and Malaysia.Station B and Tencent Video are also accelerating the pace of going overseas, and the overseas long video market is no less intense than the domestic market.In terms of Tencent Video, since it announced the launch of WeTV in June 2019, and after it landed in Indonesia, the Philippines, Malaysia and other countries and regions, it announced again in February 2020 that it has entered many countries and regions such as Indonesia, Vietnam, India, and Malaysia, which highly coincides with iQiyi's exit to Haiti.Similarly, in December 2020, some media broke the news that Bilibili (referred to as \"Bilibili\") had released local language versions in Thailand and Malaysia. In response, Station B responded: \"The App is<a href=\"https://laohu8.com/S/BILI\">Bilibili</a>The official independent application released in Southeast Asia \"confirmed the rumors that Station B entered the Southeast Asian market.Of course, in addition to fighting against strong enemies in the overseas video market, iQiyi also needs to deal with cultural differences, policies and regulations of various countries, and the pressure of local video platforms. In other words, there is a lot of room for growth in overseas markets and many unknown challenges. iQiyi has a long way to go to conquer overseas markets.\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://36kr.com/p/1239588008660615\">金融外参 </a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f48fbc541b07547e95dfb5b1221fb6ed","relate_stocks":{"IQ":"爱奇艺"},"source_url":"https://36kr.com/p/1239588008660615","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138165945","content_text":"专注娱乐、兴趣长视频的爱奇艺，跌在了“饭圈”上。\n5月6日晚，爱奇艺官方微博就“倒奶事件”发文致歉并宣布停播成团之夜、调整节目规则、取消打投通道。本是粉丝、偶像双向奔赴的美好故事，因爱奇艺疏忽中止了，此消息一出网络上均是追星一族退钱、还钱、赔钱的讨伐声。\n至此，《青春有你3》停播参赛选手的花路终止，爱奇艺彻底得罪“饭圈”，也就相当于断了“粉丝经济”这条财路。不仅如此，“青3事故”还引发市场众怒，爱奇艺会员涨价的事情也被网友翻出来鞭尸，爱奇艺股价应声而跌。\n与此同时，爱奇艺发布了2021年一季度财报，成立11年的爱奇艺依旧苦于盈利。\n01\n继续亏损\n2021年了，率先提出会员涨价的爱奇艺还逃不出亏损困局。具体财报显示，一季度爱奇艺营收80亿元，同比增长4%，市场预期76.74亿元；净亏损13亿元，上年同期亏损29亿元，亏损进一步缩窄。\n其中，爱奇艺会员服务收入为43亿元，截至今年三月底，爱奇艺总订阅会员人数为1.053亿，一季度订阅会员数增长了360万，海外市场整体MAU较上季度增长77%。显然，作为爱奇艺主要营收来源，拉动会员数量增长，持续挖掘会员付费潜力依旧是爱奇艺运营的重心。\n另外，品牌广告行业回暖广告主品牌投放预算加大，一季度爱奇艺广告营收实现收19亿元人民币（约合2.925亿美元），同比增长25%。爱奇艺官方也指出，广告营收增长得益于宏观经济的复苏，品牌广告预算和品牌广告主的数量都出现了反弹。\n再有，本季度爱奇艺的内容发行实现收入7.791亿元人民币（约合1．189亿美元），同比增长29%。其他营收第一季度贡献收入9.610亿元人民币（约合1.467亿美元），相比去年同期增长了10%。\n整体来看，爱奇艺一季度多项业务呈现增长态势，不过由于高度依赖在线广告和付费会员两大业务，以及内容成本过高且“一鱼多吃”模式扔在探索阶段，爱奇艺短时间内很难实现盈利。\n网络公开数据显示：2018年至2020年，爱奇艺在线广告业务连续下滑；与此同时，爱奇艺会员付费数减少，在2020年爱奇艺付费会员数同比下降4.95%，而会员业务增长放缓或者留存会员数出现波动直接影响营收。\n成本重压、核心业务遇阻，爱奇艺盈利能力更显疲弱，几乎陷入停滞状态。爱奇艺2015年-2020年的净亏损分别为25.75亿元、30.74亿元、37.37亿元、90亿元、103亿元和70亿元，6年累计亏损已经超过350亿元。\n总之，无论是广告业务还是会员付费都需要内容支撑，影响爱奇艺发展的终是内容质量，因此在内容匮乏的当下，爱奇艺“焦虑”了。\n02\n内容匮乏引焦虑\n2021年了，长视频版权之争已逐渐落下帷幕，长视频平台想要通过传统渠道获取优质版权的机会在减少，自制剧成为长视频平台新的选择。另外，受疫情影响2020年线下影视剧拍摄几乎停滞，优质影视作品随之减少。\n根据爱奇艺内部的分析，2020年和2021年1-4月以SVOD模式上线的票房过亿的电影的数量相比2019年同期分别下降约一半，其中以好莱坞电影为主的海外电影数量分别下降超过一半。\n与之相对应的是，爱奇艺内容成本下降。财报数据显示，2021年第一季度，爱奇艺的营收成本与2020年同期相比下降10%， 这主要归因于内容成本和带宽成本的下降。其中，第一季度内容成本为54亿元人民币（约合8.296亿美元），与2020年同期相比下降8%。\n对爱奇艺来说，优质内容是核心竞争力也是生存的根本，所以优质内容的获取和制造刻不容缓。爱奇艺创始人、董事兼首席执行官龚宇也曾明确的指示：“通过优质内容，吸引付费会员，依然是爱奇艺的“生存命脉”。”\n从《赘婿》、《小舍得》两大热播剧来看，爱奇艺制造爆款影视剧的初心不改，内容成本也依旧占营业成本和营业收入较高的比重。只不过，爱奇艺更注重降本增效了，《赘婿》和《小舍得》都没有像以往一样采用流量明星来引流，大大降低了影视剧制作成本。\n另外，随着用户对影视剧质量要求不断提高，“大IP+大明星”模式出爆款的机率在降低，视频平台制造爆款影视剧变得更艰难。\n以往，“大IP+流量明星”的组合出爆款的几率较大，但随着越来越多的流量明星失去号召力以及大IP改编剧遭诟病，如何制造爆款影视剧成为长视频平台共同的“心病”，爱奇艺也不列外。\n面对爆款制作难题，爱奇艺选择以量取胜的策略，通过提升内容质量和数量，来提高产生爆款概率。据悉爱奇艺在2021、2022年将有高达33部电影作品陆续上映，动漫、热门小说改编剧、儿童内容影视剧也只多不少。\n方今，高质量内容的产出与会员付费率息息相关，而内容数量和质量的提升以及影视剧内容的宣发，都需要资源、资金、人力还支持，十分考验平台的综合实力。作为国内长视频领域的佼佼者，爱奇艺需要建立足够有强大的内容输出生态系，才有可能保持领先地位。\n03\n出海捞金不容易\n随着互联网的普及、影视剧文化输出速度的加快，国产剧同步在海外播出已是大势所趋。据广电总局数据显示，电视剧是当前中国电视节目国际传播中最主要的节目类型，占全国电视节目出口的比重约70% ，已出口到全球200多个国家和地区。\n在此情景下，爱奇艺、腾讯视频、B站等平台纷纷出海捞金，不断开垦海外市场的“视频荒地”。\n爱奇艺在推进海外探索进程的同时，保持了领先优势。财报数据显示，爱奇艺2021第一季度整体MAU较上季度增长77%，新增下载量在东南亚多个国家和地区稳居TOP5，特别是在泰国、马来西亚等国家和地区长期保持第一。\nB站、腾讯视频也不断加快出海的步伐，海外长视频市场战况激烈程度不亚于国内市场。\n腾讯视频方面，自2019年6月宣布推出WeTV，并在在印尼、菲律宾和马来西亚等国家和地区落地之后，2020年2月又再次宣布已经进军印尼、越南、印度和马来西亚等多个国家和地区，与爱奇艺出海地高度重合。\n同样的，2020年12月有媒体爆料，Bilibili（简称“B站”）已在泰国和马来西亚发布当地语言版本。对此，B站回应称：“该App是哔哩哔哩在东南亚地区发布的官方独立应用”，确定了B站进军东南亚市场的传言。\n当然，爱奇艺在海外视频市场除了需要对抗强敌之外，还需应对各国文化差异、政策法规以及本土视频平台的压力。也就是说，海外市场有很大的增长空间也有很多未知的挑战，爱奇艺在征战海外市场任重道远。","news_type":1,"symbols_score_info":{"IQ":0.9}},"isVote":1,"tweetType":1,"viewCount":1562,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}