iQIYI is an innovative market-leading online entertainment service in China. iQIYI’s platform features iQIYI original content, as well as a comprehensive library of other professionally produced content, professional user generated content and user-generated content. Premium content is critical to the success of iQIYI’s business. iQIYI needs to produce and license premium content in order to deliver a differentiated and engaging entertainment experience for its users. iQIYI’s content library included a wide selection of drama series, variety shows, films, kids programs, documentaries, animations, sports programs as well as other various genres of program. This vast and diversified content library has helped iQIYI attract users of different ages and backgrounds and increase user engagement. The number of total subscribing members was 101.7 million as of December 31, 2020 and 100.7 million excluding individuals with trial memberships.
On March 29, 2018, iQIYI’s ADS commenced trading on the Nasdaq Global Select Market under the symbol “IQ”. iQIYI remains as a consolidated affiliated entity under United States generally accepted accounting principles.