With the release of the latest financial or performance reports by iQiyi and Mango Super Media on February 28th, the latest operational data of the two major long video platforms, iQiyi and Mango TV, have also been released.
According to iQiyi's financial report, as of December 31, 2023, the platform had 101.1 million subscribed members. Mango Super Media's 2023 annual performance report shows that the membership size of Mango TV reached 66.53 million, setting a new historical high.
IQiyi achieved a revenue of 31.9 billion yuan
On the evening of February 28th, iQiyi released its financial reports for the fourth quarter and full year of 2023. In 2023, the total revenue reached 31.87 billion yuan, a year-on-year increase of 10%; Non GAAP operating profit was 3.64 billion yuan, a year-on-year increase of 68%; Non GAAP's net profit was 2.84 billion yuan, a year-on-year increase of 121%. In the fourth quarter of 2023, iQiyi achieved a revenue of 7.7 billion yuan.
Gong Yu, founder and CEO of iQiyi, stated that after achieving a reversal in performance in 2022, the company continued its good momentum and achieved its best annual performance in history in 2023, with core indicators such as total revenue, operating profit, net profit, and cash flow all reaching their best in history.
Wang Jun, Chief Financial Officer of iQiyi, stated that while achieving satisfactory revenue and profit performance, the company's financial health has significantly improved. In 2023, both operating cash flow and free cash flow exceeded 3.3 billion yuan, steadily moving forward on the right path to create long-term value for investors and partners.
The financial report shows that in 2023, iQiyi's revenue from membership services and online advertising has significantly increased. Among them, the revenue from membership services was 20.3 billion yuan, a year-on-year increase of 15%; The revenue of online advertising business was 6.2 billion yuan, a year-on-year increase of 17%. In addition, content distribution and other revenue were 2.5 billion yuan and 2.9 billion yuan, respectively.
IQiyi has disclosed the latest membership data. As of December 31, 2023, there were 101.1 million subscribed members. In the fourth quarter of 2023, the average daily subscription membership of iQiyi was 100.3 million, which decreased compared to the fourth quarter of 2022. The average daily subscription membership of iQiyi in the fourth quarter of 2022 was 112 million.
Mango TV has over 66 million members
On February 28th, Mango Super Media released its 2023 performance report and simultaneously disclosed the main operational data of its core business Mango TV.
In 2023, Mango Super Media achieved a revenue of 14.63 billion yuan, a year-on-year increase of 4.68%, and a net profit attributable to shareholders of the listed company of 3.56 billion yuan, a year-on-year increase of 90.9%. The net profit after deduction was 1.7 billion yuan, a year-on-year increase of 5.71%.
Mango Super Media stated that according to Yunhe data, the effective playback volume of Mango TV's variety show main films increased by 31% year-on-year in 2023, and the effective playback volume of series main films increased by 46% year-on-year, both ranking first in the long video industry in terms of growth rate. In 2023, Mango TV launched over 100 variety shows, ranking first in the industry in terms of new releases, unique broadcasts, and innovation rates.
In terms of film and television dramas, in 2023, Mango TV will launch 128 key film and television dramas, micro short dramas, and other types of dramas. This includes popular dramas such as "To Where the Wind Blows" and "Revelation to the Costume". In 2024, the company has a reserve of over 80 film and television dramas and 100 micro short dramas, further enhancing its ability to supply high-quality TV series.
At the end of 2023, Mango TV's effective membership reached 66.53 million, reaching a new high in membership size. The annual membership revenue reached 4.315 billion yuan, a year-on-year increase of 10.23%, with a year-on-year increase of 35.76% in the fourth quarter of 2023.
In terms of advertising business, Mango Super Media mentioned that in 2023, the company's advertising business achieved a revenue of 3.532 billion yuan, a year-on-year decrease of 11.57%, narrowing the decline compared to the first half of the year. Among them, advertising revenue in the fourth quarter increased by 16.13% year-on-year, and the year-on-year growth rate turned from negative to positive.
Mango Super Media stated that last year, top IPs such as "Riding the Wind 2023" and "Braving the Thorns Season 3" stabilized the investment market for variety shows, while "Going to the Wind" and "Taking Love as the Camp" broke records for the company's investment amount and number of project cooperation clients in the past three years.
Mango Super Media also disclosed the development of the company's e-commerce business. It stated that the GMV of Xiaomang E-commerce, which is in the strategic cultivation period, has exceeded 10 billion yuan in 2023.