iQIYI(US:IQ) 3 6 Ke·2025-09-19 12:06Core Insights - The film "Unnamed: The Reversal of Fate" (referred to as "Unnamed 2") has generated nearly 8 million in revenue through a membership revenue-sharing model on iQIYI after its theatrical run, which is close to half of its box office share from theaters [1][2] - The shift towards online revenue-sharing for theatrical films is becoming a trend, allowing films that underperform in theaters to find new revenue streams [4][16] Revenue Performance - "Unnamed 2" has achieved a total box office of 519.15 million, with the film's share amounting to 168.97 million, indicating that its online revenue is significant compared to its theatrical earnings [1][2] - "Big Wind Kill" is the top-performing film in terms of online revenue, earning 31.16 million, which is more than double its theatrical share of 18.15 million [4][6] Market Dynamics - The recent changes in revenue-sharing policies by iQIYI, allowing new theatrical films to be released online within 90 days, have opened new opportunities for revenue generation [3][13] - The overall market for online films has stabilized, and there is a growing trend of collaboration between online and theatrical films, as both sectors face challenges [9][15] Industry Trends - The number of production and distribution companies for online films has been declining, with a significant drop in the number of new films being produced [11][12] - The integration of online and theatrical films is becoming more pronounced, with video platforms increasingly acting as primary producers for online films, blurring the lines between the two markets [15][16]