iQIYI, an independently operated subsidiary of Baidu, said its mobile app was the 7th top app by revenue globally in October, gaining two spots from its 9th place ranking in July.
Citing a report published by App Annie, iQiyi said the improved ranking was attributed to its growth in paid subscribers, driven by China's strong demand for premium content.
iQIYI said its self-produced content such as The Lost Tomb, and its cooperation with Hollywood studios — including Paramount, Lionsgate and NBCUniversal — significantly enriched its offering to subscribers who have access to a large number of premium content franchises, including The Hunger Games and Divergent.
"This is an extremely exciting time in China's online streaming industry," said Yu Gong, CEO and founder of iQiyi. "The premium content available for streaming on iQIYI's website and app continues to expand and we are constantly improving user experience through services such as our highly efficient online payment system.”
The CEO added that with the explosive demand for high-quality content and customized service, the company expect that China's online streaming industry will continue to develop very rapidly.