• On February 8, 2026, iQIYI opened iQIYI LAND in Yangzhou, China’s first immersive indoor theme park created by a streaming platform, turning popular dramas into interactive, tech-enabled experiences across seven themed zones.
• This offline expansion aims to extend the life and value of iQIYI’s content IP, deepen fan engagement, and link its streaming ecosystem with China’s growing cultural tourism market.
• Next, we’ll examine how iQIYI LAND’s offline, IP-driven experiences could reshape iQIYI’s investment narrative and long-term business mix.

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iQIYI Investment Narrative Recap

To own iQIYI, you need to believe its large content library, growing IP portfolio, and new monetization efforts can gradually turn a low-margin, loss-making streaming model into a more diversified entertainment business. The opening of iQIYI LAND is directionally positive for that thesis but does not change the near term focus on stabilizing membership and ad revenue or the key risk around uneven hit content and ongoing margin pressure.

Among recent developments, the upcoming Q4 2025 earnings release on February 26, 2026 matters most beside iQIYI LAND. It will show whether offline experiences and broader IP initiatives are starting to support engagement and monetization at a time when the company remains unprofitable, reported a net loss of about CNY 248.93 million in Q3 2025, and still faces revenue volatility across its core streaming operations.

Yet against the promise of immersive parks and new IP monetization, investors should be aware that...

iQIYI's narrative projects CN¥29.2 billion revenue and CN¥1.3 billion earnings by 2028. This assumes revenue grows by 1.8% per year and earnings rise by about CN¥1.2 billion from CN¥88.5 million today.

Uncover how iQIYI's forecasts yield a $2.34 fair value, a 29% upside to its current price.

Exploring Other Perspectives

The most cautious analysts already expected flat to slightly declining revenue around CNY 27.3 billion and only CNY 989.4 million in earnings by 2028, so if you worry about piracy eroding IP value even as iQIYI opens offline parks, it is worth weighing how far apart these views are and how this new theme park strategy might shift them.

Explore 3 other fair value estimates on iQIYI - why the stock might be worth 22% less than the current price!

Decide For Yourself

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your iQIYI research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free iQIYI research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate iQIYI's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.