Video Streamer iQiyi’s Subscribers and Revenue Fall, but So Do Losses
According to the Chinese online video platform iQiyi’s latest earnings report, the company suffered a slight revenue decline in the fourth quarter of 2020, as subscribers fell. Meanwhile, its net loss narrowed to 1.5 billion yuan from 2.5 billion yuan in the same period of 2019. iQiyi said that it expects current-quarter revenue to be between 7.07 billion yuan and 7.53 billion yuan, representing a year-on-year decrease of between 8% and 2%. Read more Caixin Global
Imax CEO Richard Gelfond on What China’s Huge Theatrical Recovery Means for Hollywood
With many in Hollywood tracking China’s recovery and pondering what it might foretell for the U.S. movie business, The Hollywood Reporter connected with Imax’s longtime CEO Richard Gelfond to discuss how the company capitalizes on China’s unpredictable but hugely lucrative Lunar New Year holiday, the risks of Warner Bros.’ direct-to-streaming plans, whether Chinese moviegoers are becoming anti-American in their tastes, and why he’s “100 percent” confident U.S. moviegoers will be back at the multiplex in a big way soon. Read more The Hollywood Reporter
