On December 15, the official Weibo of "iQIYI VIP Members" announced that it will update the subscription price of iQIYI Gold VIP members from 0:00 on December 16, and will provide users who have previously purchased and have not yet cancelled the iQIYI Gold VIP membership continuous monthly/season/annual subscription service for one year.
Nandu reporter checked the new price details and found that the price increase is mainly for gold VIP member monthly card and member quarter card users, and the price of gold VIP member annual card remains unchanged. The price of ordinary users of the monthly card rose from 25 yuan to 30 yuan, and the price of the continuous monthly subscription rose from 19 yuan to 22 yuan, with a price increase of 20% and 16% respectively; the price of the season card ordinary member rose from 68 yuan to 78 yuan, and the price of the continuous monthly subscription rose from 58 yuan to 63 yuan, with a price increase of 15% and 9% respectively. The annual card user is still maintained at 248 yuan for ordinary users and 218 yuan for consecutive annual users.
For this price adjustment, iQiyi responded to the Nandu reporter: "The price of membership subscriptions on video platforms has been low, and this phenomenon has affected the healthy development of the industry. In order to establish a more benign industrial ecology, let excellent content producers have a return, and ultimately provide members with more and better content, we decided to adjust the price of members. We will continue to strive to do a good job in content, products, and services to users. Thank you for your understanding and support. ”
It is understood that iQiyi made its first membership price adjustment in nine years in November 2020 and carried out multi-terminal price unification, when the price of all member types increased slightly. As of the end of the third quarter of this year, iQIYI's subscription membership reached 103.6 million, and its membership service revenue increased by 8% year-on-year. It can be seen that since iQiyi announced that the number of members exceeded 100 million in 2019, its membership growth rate has been weak. In the latest post-earnings conference call, Gong Yu, founder and CEO of iQIYI, once again mentioned that the biggest problem encountered by the industry is the serious shortage of content supply, and frankly said that the competition for the user market of short videos is also an important objective reason.
Written by: Nandu reporter Xu Bingqian