On August 22, iQiyi released its unaudited second quarter financial report as of June 30, 2024. In the second quarter of 2024, iQiyi's total revenue was 7.4 billion yuan. Among them, the membership service revenue was 4.5 billion yuan, and the monthly average single member revenue (ARM) steadily increased year-on-year; Online advertising service revenue of 1.5 billion yuan; Content distribution revenue of 700 million yuan; Other income was 780 million yuan. During the quarter, iQiyi's Non GAAP operating profit was 500 million yuan, with an operating profit margin of 7%. We have achieved positive operating cash flow for 9 consecutive quarters.
At the financial conference call, iQiyi revealed the progress of series development of more high-quality IPs. The third season of the "Tang Dynasty Mystery Chronicles" series, "Tang Dynasty Mystery Chronicles: Chang'an," will enter the filming stage. The popular "Fearless" and "Crime Hunting Guide" will be released for the second season, and the second season of "Yunxiang Legend" is also under preparation.
IQiyi continues to promote the widespread application of innovative technologies, enhance content creation capabilities, operational efficiency, and user experience. In the second quarter, iQiyi's virtual production application scenarios broke through the fantasy theme and were first applied to real-life drama series. Our self-developed virtual rehearsal product can quickly design and visualize scenes in the drama before official filming, and has been applied to multiple top-level projects, achieving significant efficiency improvements.
In the second quarter, the full competition in the industry has a positive significance for the development of long videos, enhancing their attractiveness compared to other forms of entertainment. We firmly believe that the key to achieving long-term development in the long video industry lies in the sustainability of high-quality content supply, as well as the win-win situation between content quality and commercial revenue. This is also iQiyi's unchanged pursuit. "iQiyi founder and CEO Gong Yu said that iQiyi is committed to widely applying AI to improve content creation capabilities, operational efficiency, and user experience, enhance domestic business performance, and expand into more overseas markets. Explore IP derivatives and offline experience businesses through iQiyi's content influence.