Interpretation of iqiyi executives2021Q3Financial Report:There is a serious shortage of content supply

author:Sina Technology source: Sina Technology 2021-11-18 10:34 read(

  Beijing time 11 month 17 Evening news,Iqiyi released today 9 month 30 Diurnal 2021 Third quarter financial report,The total revenue is RMB 76 RMB100mn(approximately amount to 12 USD100mn),Year on year growth 6%。The net loss is RMB 17 RMB100mn(approximately amount to 2.684 USD100mn),The net loss in the same period last year was RMB 12 RMB100mn。



  After the release of the financial report,Founder and of iqiyi CEO Gong Yu、CFO Wang Xiaodong、CCO Wang Xiaohui、CTO Liu Wenfeng、Senior vice president Yang Xianghua and other company management held a teleconference,Interpretation of key points of financial report,And answer analyst questions。

  The following is the main content of the analyst Q & a session of the conference call:

  Huaxing capital analyst Ella Ji:Good evening, management。My first question,Could you please ask the management for some rectification suggestions recently put forward by Zhejiang consumer association,Discuss it(proposal)Impact on future business development;The second question is about membership,Iqiyi has now tried a series of low line cities,Will the new members mainly come from low-level cities in the future?Or will it come from the secondary activation of high-speed city members?In particular, I just heard Gong Yu mention that iqiyi Express Edition is more targeted at low-level cities,(income)More advertising revenue,In this regard, I would like to hear the management's thoughts again;The third question is about talent shows and a series of variety shows,Iqiyi has many new attempts in variety shows、New direction,In iqiyi's opinion, which of these are very promising in the future?

  Gong Yu:Let me answer the first two questions。The first question is about the Consumer Association。The consumer association aims at our whole industry,Subdivide,Its opinions are roughly divided into two types,The first category is product design and business process issues。In addition to communicating with the Consumer Association,We are also making improvements based on user feedback from our customer service and some of our own internal research,Make the user experience better,Let users avoid misunderstanding about charging、an error,For example, sometimes the interface prompt is not clear,Users will make mistakes。The second category is about business models。About business model,Iqiyi is still based on our user agreement、Public publicity and the setting of our own business model,Still communicating with the Consumer Association。

  Second question,Now there is no doubt that the penetration rate of high-speed city members is higher,Low penetration rate of members in low tier cities,We will continue to work in this direction。Another dimension is iqiyi Express Edition,At present, it is mainly developed in low-level cities,The users are mainly non member users,That is, free users。They consume more content,At the same time, there are more consumer advertisements。Therefore, the main business model of iqiyi express is advertising,And the proportion of effect advertising is higher than that of iqiyi artists App Higher。I think it may take some time for members of iqiyi express to develop low-level cities,For example, a year、Two years later,This may become a priority,But not now。Or IQI artist App Through operational means、Publicity content and other aspects to improve the member penetration of low-level cities。

  Wang Xiaohui:Let me answer the third question,What are the future directions of talent show variety and self-made variety。as everyone knows,Because of the rice circle culture、Bad phenomena such as mutual tearing and trampling of fans,According to the instructions of the government,Involving Korean singing and dancing、idol The type based talent show has indeed been suspended,But we think there is still a lot of room for variety show in the future,Whether it's a new show,Or the slow variety show of emotional life,still“Star element binding”New variety,There will be more space。For example, we just went online《Annual comedy contest》,It is also a talent show for comedy artists,But because of its quality、Innovative types, etc,(program)As soon as it went online, it won the first place in the current network comprehensive viewing share,Iqiyi has therefore returned to the first position in the variety market share。Including our upcoming launch in the future《Let's make a movie》And so on,Will gain more market share and more audience attention in the future。

  Citibank analyst Alicia Yap:Good evening, management,Thank you for accepting my question。My question is about the overall prospect of the long video industry。Because the recent regulation of the whole Internet will bring some changes,Please share with the management what changes will be made in the theme of self-made films,Will our content strategy have some different ideas,For example, the type of content,The length of TV series,Or national themes, etc;in addition,Can the profit model of the whole long video industry break through member subscription and advertising?What new models can be explored?

  Gong Yu:In short,The biggest problem we are facing in this industry,If it is simplified to the relationship between supply and demand,There is a serious shortage of content supply,There are many reasons。First aspect,epidemic situation,This is the most direct。Up to now,The number of our films online is not as good as 2019 Half of the year,Half of the same period;The proportion of traditional TV dramas is less,Maybe only in previous years 1/3 about;A new online play for young people,Because of the epidemic、Delayed launch due to government audit,And after the launch, the quality was also discounted。Here I only say part of the reasons。In fact, there is a big problem in the supply of content,This is also a core issue。Of course, there are objective reasons,The contention of short video for user duration is also an important objective reason。

  second,I want to talk about business model。Certainly not a business model of income can become a stable way in the future、Long term income mode。We often say that one fish eats more:Our investment in content has generated content related IP,Then IP Develop into different work forms,For example, it was a novel,Now it's a movie、Into a play、Into animation、Animation becomes a game,Then put IP Authorization for commercialization,Into stationery、Props and so on,Including advertising revenue and membership fees directly charged to users or single chip on-demand fees, etc,Only these combined revenues exceed the investment in content,This business model will become a stable business model、Healthy business model。It takes time,Iqiyi is not far from this day,Because we have accumulated IP More and more。One of the key factors we firmly believe in is film。from 126 Two years ago, the Lumiere brothers began to play commercial films,90 Television technology was born many years ago,Up to now,Movies,Including later derived animation、Documentary, etc,Are rigid human needs,There is no doubt about this。on the other hand,Artistic creation is an expression of human intelligence,So in different spaces,As long as we get a certain period of development and adaptation,It will create content that users like in this space。Therefore, long videos are mainly film and television content,We think its market space is permanent。We have to adapt to the current environmental changes,Create more content to meet user needs。This is the most important work now。

  Jeffrey analyst Thomas Chong:Thank the management for accepting my question。My question is about iqiyi's overseas strategy。The management also mentioned just now,Iqiyi in AI、There are also achievements in translation and other fields。What is iqiyi's overseas strategy?How does iqiyi view the competition between different countries?Will iqiyi increase overseas investment in the future?

  Yang Xianghua:Let me answer iqiyi's overseas strategy。Iqiyi does overseas business mainly in the hope that we have developed it in China、Produced self-made content is distributed in more countries、Realization。Of course, this will also involve the increased cost of translation,Therefore, we will first find regions interested in our Chinese content in our development strategy,For example, mainly in Asia,Especially in Southeast Asia,Including Japan and South Korea;In some developed countries,For example, there are Chinese areas in North America or Australia,We will also do some promotion or marketing for the Chinese market。

  In the future, we will continue to introduce more Chinese content overseas。We also see Chinese content,Especially the variety show and idol series,These plays, which mainly focus on young people, are very popular overseas,Chinese Dramas by overseas users、The viewing volume and viewing duration of content continue to grow。

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