On March 13, the topic labeled as “iQIYI stock price” has become a hot topic in the financial circles, even trending on Weibo.
According to various online sources, the stock price of iQIYI (IQ.US) has been continuously declining recently. As of the closing of the U.S. stock market on March 12, the stock price closed at $1.29, a 4.44% decrease for the day, reaching a new 52-week low of $1.28.
At the time of reporting, the stock price of iQIYI was $1.3, with a total market value of $1.24 billion. Compared to its peak in 2018, the market value has plummeted by over 90%. On March 29, 2018, iQIYI was listed on the Nasdaq in the U.S. with an IPO price of $18 per share, priced in the middle of the $17 to $19 range. At that time, iQIYI had a market value of about $12.74 billion and raised $2.25 billion through the IPO.
Financial blogger “Wealthy Golden Carp” posted, “After the financials bombed, iQIYI’s market value has evaporated nearly 30% in just over ten days, with the online video industry fundamentals under pressure.”
Earlier on February 26, iQIYI released its financial report for the fourth quarter of 2025 and the full year.
The financial report revealed that iQIYI’s revenue for the full year of 2025 was 27.291 billion yuan, a 6.62% year-on-year decrease, marking its second consecutive year of negative growth. The previous year, iQIYI’s revenue was 29.225 billion yuan, a decrease of 8.31% year-on-year.
While the revenue decreased, iQIYI transitioned from profit to loss. In 2025, iQIYI’s net profit attributable to the parent company’s shareholders was a loss of 206 million yuan, plummeting by 127% compared to a profit of 764 million yuan in 2024.
After the release of the financial report, iQIYI’s stock price continued to decline.
Xiǎo Lìjūn, CEO of Beijing Huanwen Network Media Technology Development Co., Ltd., and financial blogger, posted an analysis saying, “iQIYI’s stock price continues to decline, highlighting the true difficulties of the long-form video sector!
“In recent times, iQIYI’s stock price hit new lows, closing at $1.29 on March 12, down over 33% in the past three months, with a total market value of only $1.24 billion, shrinking by more than 90% from its peak period. The financial report shows that in 2025, the company went from profit to loss, with both core revenue streams of subscribers and advertisements declining simultaneously. Despite having hit shows, it’s difficult to withstand performance pressure, and the capital market votes with its feet.
“The new information is that iQIYI’s overseas subscription revenue grew by over 30% year-on-year, becoming one of the few bright spots. However, with stagnant growth domestically and unresolved contradictions between content costs and profits, institutions have generally lowered expectations, with most giving hold ratings.
“In my experience, long-form video platforms have entered a game of existing resources, and relying solely on hit shows cannot change the fundamentals. Ordinary investors should not try to catch the bottom for a rebound. Such low-performing stocks should be avoided until the trend reverses.”
“It’s a stark reality. The stock price decline is not about the hype but about the market’s confidence in growth. No matter how popular the content is, if there’s no money to be made or hope in sight, the stock price will struggle to rise.”
Huáshānfǎn University’s sharp commentator, known as “Sharp Gardener” on Weibo, analyzed, “iQIYI’s stock price has been declining continuously, hitting new lows repeatedly. The apparent reason is underperformance, but the essence lies in the collapse of the long-form video logic, backfiring cost-cutting efforts, and a value collapse under internal and external pressures, with the capital market already labeling it as a ‘stock of no future.’
“The most ironic part is that iQIYI’s ‘profit’ achieved through frantic budget cuts cannot sustain the stock price. Their profit is not from growth but from cost reductions, which lead to a decline in content quality. To maintain appearances, the platform significantly reduced investments in top shows, resulting in a lack of hit series, the homogenization of content, and naturally dissatisfied subscribers. With a continuous decline in subscription income and advertisers pulling back, the two major revenue streams bleeding simultaneously create a vicious cycle of cutting content→losing users→reduced revenue→further content cuts, making them weaker as they try to save costs, leading to further decline.
“The external environment exacerbates the situation. Short video platforms are capturing user time, diverting viewers with low-cost short dramas, while the paywall for long-form video has been completely breached. Users prefer free short videos over paying for similar-quality dramas; advertising budgets shift towards short videos, causing iQIYI’s advertising revenue to continuously shrink.”
Furthermore, iQIYI is listed as one of the “Top Four Chinese Video Platforms,” and one of the few companies in China holding the “Internet Audio-Visual Program License” issued by the Chinese government. The main sources of revenue for iQIYI consist of three major business segments: membership services, online advertising services, and content distribution revenue.
According to the data from Tonghuashun F10, as of February 28, 2025, despite Baidu Group’s ownership dropping to 45.39%, it remains a key controlling shareholder of iQIYI.