Video membership system is no longer “unified”? Iqiyi launched VIP members of Star Diamond

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Sina science and technology news on the morning of May 23, after Gong Yu, founder and CEO of iqiyi, mentioned the subdivision of the membership system in the financial report conference call, iqiyi officially launched a new membership service today – VIP members of Star Diamond, who can watch iqiyi’s advanced on-demand dramas and movie content of star diamond cinema for free, meanwhile, the membership rights and interests have been further expanded.
The page of iqiy Star Diamond VIP members shows that the monthly purchase price of Star Diamond VIP members is 60 yuan, corresponding to that of gold VIP members is 19.8 yuan; the monthly purchase price of Star Diamond VIP members is 398 yuan for consecutive years, and the first monthly purchase price of new users is 12 yuan, twice that of gold VIP members, and the latter is 6 yuan. Iqiyi diamond VIP members will be upgraded to Star Diamond VIP free of charge. In addition, the VIP members of Star Diamond cover the multi member rights and interests of kiwi fruit, fun, literature, sports and VR members. Users can enjoy the VIP member services of Star Diamond through mobile devices, computers, smart TVs, tablets and VR devices.
According to iqiyi’s financial report for the first quarter of 2020, as of March 31, 2020, iqiyi had a total subscription membership of 118.9 million, with a net increase of 12 million members in a single quarter, a year-on-year increase of 23%. The increase in the number of members has obviously boosted the revenue of Member Services – iqiyi’s revenue of member services in the first quarter was 4.6 billion yuan, up 35% year-on-year, accounting for 60% of the total revenue.
Behind the growth of users in this quarter, the special situation of home isolation under the influence of the epidemic is involved. According to quest mobile data, since the epidemic, users have become more dependent on the mobile Internet, and the duration of Internet use has increased by 21.5% over the daily. Gong Yu has mentioned in several public occasions that the era of horse racing and enclosure is over, and then every user of the video platform will harvest in the gap. As the access of users becomes more and more difficult, in addition to trying to expand the scale of users by sinking and going to sea, another option of video platform is to improve arppu (average paid user income). This quarter, iqiyi’s monthly arppu is about 13 yuan, almost one sixth of Netflix’s, which is one of the motivations for the video platform to choose the advanced on-demand mode. At present, Youku, iqiyi, Tencent video and mango TV have all joined the advanced on-demand camp. Before that, the user response was fierce, and the overall effect remains to be observed. Previously, it was also reported that the video platform is considering member price increase. Now, diversified and combined membership mode may be another choice made by the video platform under the current situation. In fact, Netflix and other overseas streaming media platforms also adopt the multi-level member package mode including basic, standard and advanced.
According to Yang Xianghua, iqiyi member and President of overseas business group, Star Diamond VIP member is another important moment in iqiyi member service development, which represents iqiyi member service and user demand grow to a new stage together. “We always believe that member services need to be continuously innovated in the dynamic development of market environment, user needs and platform capabilities,” he said. Integrating iqiyi’s content, multi-faceted and ecological rights and interests is our continuous commitment to providing users with the ultimate entertainment experience. We will continue to explore the service space to provide more high-quality and high-value rights and interests for Star Diamond VIP members. At the same time, we hope that iqiyi Star Diamond and gold two sets of VIP member services can jointly bring excellent entertainment experience to users, and provide users with a systematic and simple way to choose on demand. ” (He Chang)