BEIJING, Oct. 18, 2019 /PRNewswire/ -- The mobile application of iQIYI -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "App"), a market-leading online entertainment service in China, has been ranked by App Annie, a global mobile app analytics and market data platform, as number 3 in the consumer spend ranking (the "Ranking") of its Worldwide App Index for Q3 2019; Tinder and Netflix ranked first and second respectively.
According to App Annie, consumer spends for apps worldwide in Q3 2019 reached new heights at over $23 billion, representing a 20% growth from the same period in 2018. Led by Netflix and iQIYI, four of the top five applications listed in the Ranking were online video streaming apps; iQIYI being the highest-ranked Chinese application. With the rapid development of online video streaming platforms, premium content productions on streaming platforms has been leading payments penetration of online video users to continuously increase, making online video streaming subscriptions the core drive of paid revenue growth in entertainment-related apps.
iQIYI's extensive offering of diversified and high-quality content continues to be the main attraction for users to sign up for paid subscription, making it a key contributor to the company ranking second in consumer spend for global video streaming apps. In Q3 2019, iQIYI released various high-quality drama series including Love and Destiny, Arsenal Military Academy, A Little Reunion, My Mowgli Boy, and successfully launched several highly popular variety shows such as The Rap of China 2019, The Big Band, Me and My Country, and Mr. Housework.
As of June 30, 2019, iQIYI's video platform is home to 100.5 million members, making it China's largest video streaming platform in terms of subscribing users. Fuelled by its commitment to satisfying its users' need for high-quality content and premium services, iQIYI will continue leading the rapid development of consumer spend in the online video streaming market in the future.
About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce.
SOURCE iQIYI, Inc.