On February 28th, iQiyi released its financial reports for the fourth quarter and full year of 2023. In the fourth quarter, iQiyi achieved a revenue of 7.7 billion yuan, a year-on-year increase of 1%, and a full year revenue of 31.9 billion yuan, a year-on-year increase of 10%. Under non GAAP accounting standards, Baidu's net profit for the fourth quarter of 2023 was 682 million yuan, with a net profit of 2.8 billion yuan for the whole year, a year-on-year increase of 121%.
According to the financial report, iQiyi's membership service revenue in 2023 was 20.3 billion yuan, a year-on-year increase of 15%; The revenue of online advertising business reached 6.2 billion yuan, a year-on-year increase of 17%, with content distribution and other revenue of 2.5 billion yuan and 2.9 billion yuan, respectively. In the fourth quarter of 2023, iQiyi had an average daily subscription of 100.3 million members. As of December 31, 2023, there were 101.1 million subscribed members.