In today's Internet industry, members are everywhere, e-commerce, food delivery, video, music, literature... You can see members everywhere. For some users, membership is not pleasing, and membership means more than regular expenses; but for Fax List deep users, membership means high quality, high efficiency, and good service. The focus is not on membership payment, but on better user experience. Gong Yu mentioned in the Q&A session of the financial report analysts:
"As for the business model, in fact, we still firmly believe in charging users, especially the monthly subscription fee." Why is Gong Yu so Fax List determined to take the membership payment route? 1. Membership payment has become the main profit point of video websites iQIYI has been promoting the membership payment strategy of video websites since 2015. At that time, the paying users in the video industry had very poor habits. The ratio of free users to paying users was even lower than 100:1, and the problem of piracy in the video industry was also prominent.
No one can imagine that membership fee will be successful in China. However, the popularity of the online drama "Tomb Notes" has knocked on the door of membership payment in the video website industry. In Q3 2019, iQIYI's membership Fax List revenue accounted for more than 50% for the first time; in Q2 2020, membership revenue accounted for 54% of iQIYI's total revenue, and membership business has become half the sky of iQIYI. iQIYI has driven the payment of members in China's video website industry. The total number of paid members of Aiyouteng has exceeded 200 million.