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Losses Little Changed at China’s iQiyi as Shares Touch All-Time Lows
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variety.comPatrick Frater Asia Bureau ChiefiQiyi, China’s second largest generalist subscription video platform, weighed in with net losses of RMB1.40 billion ($216 million) in the second quarter of 2021, compared with losses of RMB1.44 billion ($222 million) in the April to June period in 2020.Revenues also improved fractionally, from RMB7.41 billion last time to RMB7.61 billion ($1.17 billion).
Net subscriptions increased to 105.2 million (excluding trial memberships) as of June 30, 2021, compared with 104.9 reported in the same slot last year when the company said that 99.4% were paying members.The company congratulated itself on achieving subscription growth in a normally quiet quarter, helped by the appeal of its original drama series, and on.
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