IQiyi, the Netflix of China, posts first year of profits and says it's 'excited' about Sora-like AI
Publishing timestamp: 2024-02-29 05:30:13
Summary
iQiyi CFO Wang Jun is excited about potential new business opportunities with OpenAI's text-to-video tool Sora. iQiyi reported its first profit in 2023 since listing in the U.S. in 2018. The company is focusing on creating original content and using data analysis to understand consumer preferences. Despite record revenue, subscriber numbers have fallen, and the company is making efforts to produce better content to increase subscribers. Wang also mentioned the company's focus on overseas expansion.
Sentiment: NEUTRAL
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Keywords: market insider, breaking news: technology, earnings, stock markets, business news, alibaba group holding ltd, tencent holdings ltd, iqiyi inc, markets, bilibili inc, entertainment, technology, baidu inc,