Shares of Chinese streaming platform iQiyi Inc. (IQ) soared over 5% during intraday trading on Wednesday, outperforming the broader market. The surge in IQ stock price can be attributed to the company's strong comeback in membership services driven by a robust lineup of premium content releases.

According to iQiyi's Q4 2024 earnings call, the company witnessed a significant rebound in its membership business starting from late November, fueled by the return of highly acclaimed dramas and other top-tier content offerings. Popular releases such as "We Are Criminal Police" and "Drifting Away" surpassed the 10,000 mark on iQiyi's popularity index, solidifying the platform's leadership in the suspense genre.

To capitalize on this momentum, iQiyi has taken several initiatives to enhance its membership services. The company has reclassified its offerings into individual and family categories with varying tiers, catering to diverse user needs. Additionally, iQiyi introduced an "express package" benefit for premium members, granting early access to new content finales, driving an increase in higher-tier subscriptions.