Rebecca Xu

Rebecca Xu from Morgan Stanley asked for an update on the operating performance of iQIYI LAND in Yangzhou since its opening and the specific plans for the experience business in 2026.

Answer

Yu Gong, iQIYI's Founder, Director, and CEO, reported that iQIYI LAND in Yangzhou, which opened on February 8th, offers seven immersive experiences and has met expectations with positive user feedback, achieving 4.8-4.9 out of 5 on major OTA platforms. Visitor numbers consistently grew through the Chinese New Year holiday, attracting a wide age range from 4 to 70s. He anticipates a 1-2x increase in peak single-day revenue during upcoming peak seasons (March/April, May Day, July/August, October National Day) due to improved marketing and operational efficiency. The current average transaction value for consumer products is around CNY 100. For 2026, iQIYI plans to enrich merchandise offerings, expand self-operated IP consumer products, and aims for over 100% revenue growth in this segment.

Rebecca Xu asked for an update on the operating performance of iQIYI Land in Yangzhou since its opening and details on the company's specific plans for the experience business in 2026.

Answer

CEO Yu Gong reported that iQIYI Land Yangzhou, which opened on February 8th, has met initial expectations with positive user feedback, reflected in 4.8-4.9 ratings on major OTA platforms, and consistent visitor growth across all age groups. He anticipates a 1-2x increase in peak single-day revenue during upcoming holiday seasons due to enhanced marketing and operational efficiency. The company plans to significantly enrich its IP-based consumer products, aiming for over 100% revenue growth from self-operated merchandise this year, and increase both average transaction value and purchase frequency.