<p>iQIYI (NASDAQ:IQ) reported Q1 2026 revenues of 6.2 billion RMB, an 8% decline. Membership services revenue grew by 2%, while online advertising and content distribution revenues fell by 8% and 54%, respectively. The company is focusing on premium content, short film dramas, and AI-driven content creation, planning to launch over 100 short-form dramas in 2026. Its overseas business, particularly in Southeast Asia, saw membership revenue increase by over 40% annually. Strong anti-piracy measures and a supportive regulatory environment are expected to enhance content protection and growth.</p>

- iQIYI Inc reported Q1 2026 revenues of 6.2 billion RMB, reflecting an 8% sequential decline, with membership services rising 2% but online advertising and content distribution revenues falling significantly.  
- The company focuses on enhancing its core business by producing premium content and utilizing AI for over 100 planned short-form dramas in 2026, while international membership revenue surged over 40% annually, especially in Southeast Asia.  
- Strong anti-piracy measures and a supportive regulatory environment are expected to bolster content protection and stimulate growth in high-quality content creation.

Full Transcript: iQIYI Q1 2026 Earnings Call