iQiyi on course for profitability in five years

Chinese streaming giant iQiyi may reach profitability in five years time, according to its CEO.

In comments made to Reuters, Baidu founder and CEO Gong Yu said that the streamer –  which effectively serves as the Chinese equivalent of Netflix – will turn to ‘intelligent production’ to cut costs and reach profitability.

Source: iQiyi on course for profitability in five years