Iqiyi CEO Gong Yu: the content and market investment will be appropriately increased in the second half of the year.

On the evening of September 15, iqiyi 2022iJOY enjoyment meeting and annual marketing meeting, iqiyi founder and CEO Gong Yu shared iqiyi media platform matrix composition, company development strategy and next-generation business layout.

He said that in the first half of this year, iqiyi effectively implemented the strategy of "increasing revenue and reducing expenditure" and made every effort to increase members, advertising and other important business income to turn losses into profits; in the second half of this year, iqiyi launched the strategy of "calm growth" and appropriately increased content and market investment. Gong Yu mentioned that iqiyi is making efforts to lay out next-generation businesses such as cloud cinema, intelligent production, overseas business, anytime business, AR / VR, Web3 and so on.

In October last year, Gong Yu mentioned that "the audience's rigid demand for excellent works is forever, and the creative ability of creators is unlimited. Market changes will bring more space." Subsequently, iqiyi opened a series of strategic adjustments that focus on key business, create high-quality content, and pay more attention to operating profits. In this year's speech, Gong Yu said that after the "stress test" of the company's operation in the first half of the year, he is more confident about what to do in the second half of the year and next year, and will increase investment in content, market and brand to provide more rich and diverse content for the audience.