iQiyi Inc. (IQ) shares surged 5.15% in pre-market trading on Friday, buoyed by the company's impressive viewership numbers and content performance over the recent Chinese New Year holiday period.
According to data released by iQiyi, China's leading online entertainment platform saw a significant spike in viewership across various content categories during the CNY festivities from January 28 to February 4. Classic IPs, including blockbuster films and their sequels, drove a surge in online viewership and fueled platform-wide engagement.
Notably, the release of sequels such as "Ne Zha 2" and "Legends of the Condor Heroes: The Gallants" reignited interest in their predecessors, leading to substantial increases in viewing time for related content. The success of iQiyi's original suspense drama brand "Light On Theater" and the popularity of mini-dramas among younger audiences further contributed to the platform's strong performance.
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