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iQiyi is not quite the "Netflix of China"
Baidu recently regained capital market recognition with a market capitalization of over $100 billion. And Baidu American depositary receipts rose more than 3% after its 2020 Q4 earnings release. However, backed by Baidu, iQiyi's shares declined by 7%, attributable to the decrease of subscriber numbers.
The streaming media industry is highly favored by the capital due to the pandemic. In the international market, Netflix is a big hit. The continuation of the global epidemic has pushed Netflix users up like crazy, with subscriber of its global streaming service surpassing the 200 million mark. The growth of its subscriber has boosted the company's revenue, while also allowing the company's stock price to soar, providing strong gains for investors.
iQiyi, known as "Netflix of China", is quite different from Netflix in terms of subscriber size, revenue and profitability. The following is a simple analysis.