iQIYI launches content e-commerce amid revenue pressure, eyes livestream shopping

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Chinese streaming giant iQIYI has entered e-commerce, launching a livestream shopping platform that leverages its rich IP and celebrity talent portfolio. CEO Gong Yu announced the move during the “2025 iQIYI World Conference” on April 23, describing the initiative as an extension of the company’s content ecosystem. Subscription revenue slid 13%, while advertising revenue dipped 8%, reflecting industry headwinds. Gong Yu noted that subscription numbers saw an uptick at the end of 2024, though he withheld specific figures. While iQIYI first floated plans for livestream e-commerce back in 2020, this marks its most structured foray into the space.