Market Data

iQIYI: A Thrilling 12-Year Journey to Video Streaming Giant’s $3 Billion in Consumer Spend

Randy Nelson

The streaming video on demand app cements its position in the exclusive $3 billion club alongside major players like Google One and Tinder.

Mobile entertainment stalwart iQIYI  has surpassed $3 billion in global player spending across the App Store and Google Play, according to estimates. This figure accounts for consumer spend in iQIYI through Apple’s App Store and Google Play. A significant portion of the app’s revenue originates from China and its third-party Android stores, which were not factored into this assessment.

An APAC-Led Sucess Story and a Rare One Overall

Top markets for iQIYI are condensed in APAC, as China ranks as the #1 revenue generating market for iQIYI  to date, with the title generating $2.8 billion in the country on iOS only. Taiwan ranks #2 for revenue, while Thailand comes in at #3.

This latest landmark means the streaming video app is one of the highest revenue generating mobile titles ever, becoming part of the hyper-exclusive $3 billion club, rubbing shoulders with big players like Max, Tencent Video and Disney+.

iQIYI: Still Well-Placed Among Mobile’s Streaming Elite

The key stats from Intelligence show that, during the first half of 2023, iQIYI secured the #6 spot among the world’s top-grossing OTT entertainment platforms, generating an impressive $180 million in gross revenue globally. iQIYI has emerged as a true entertainment powerhouse, standing tall among giants like Disney+ at #1 and Max from Warner Bros. at #2. Hot on its heels are Peacock TV and Netflix, ranking at #7 and #8, respectively.

iQIYI’s consumer spend peaked at more than $71 million globally in October 2019, but it continues to remain as a top earner, particularly in China. It averaged $31.5 million in consumer spend over the past 12 months, or more than $1 million per day. This was enough to rank #14 among non-game apps over this period globally – and #3 in China.

Exclusive Content Plays Have Driven Adoption

Turning our attention to download figures, August 2021 emerged as a standout month for iQIYI, garnering a combined total of 12.5 million installs across both iOS and Google Play stores globally. This surge in downloads coincided with iQIYI’s strategic efforts to produce and stream Southeast Asian shows as exclusive iQIYI originals, catering to a broader viewership base.

One notable success in this endeavor was the Singaporean drama seriesThe Ferryman: Legends of Nanyang, which marked iQIYI's first Southeast Asian original series, featuring esteemed local actors from Singapore.

Looking for the Latest Mobile Insights?

Read our H1 2023 market recap to get a clear view of the state of consumer habits in H1 2023.

August 10, 2023

Market Data

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