"Idol Producer", held by iQIYI（$IQ), was the first reality group survival show that attracted attention both at home and abroad. According to the report by Sinolink Securities, the online sales of Nongfu Spring, the exclusive naming sponsor of Idol Producer, increased by 500 times.
This show changed its name to "Youth With You" later.
"Youth With You" series has become one of the main sources of traffic and revenues for Tencent(HKG:00700) Video and $IQ.
However, Tony Yu (#JingtianYu),one of the popular trainees, quitted the show due to family scandal, and his fans was caught in a "milk pouring incident". The series of events triggered a food waste controversy. The Beijing Broadcasting and Television Administration temporarily suspended the recording of the final in early May.
Last night, the top 9 trainees from "Youth With You Season 3" debuted under the name of "IXFORM" in a concert in Chengdu.
IXFORM's members include #LuoYizhou, #TanJiuzhou, #LianHuaiwei, #LiuGuanyou, #DengXiaoci, #SunYinghao,#Liu Jun, #DuanXingxing, #SunYihang.
The controversy of the program is also reflected on the company's share price directly. As of June 8, $IQ had quoted US $14.08 with the previous lowest point of US $12.14, and the latest total market value is US $11.12 billion.
Since April this year, $IQ's share price has halved , falling from the highest price of US $28.97 this year to US $14.08, and the total market value has shrunk by the US $11.7 billion (about 74.9 billion yuan).
The Founder Gong Yu once said when $IQ went public that: "$IQ will become the Netflix plus". Netflix ($NFLX) is one of the leading content platforms in the United States. It gained a net profit of $1.7 billion in the first quarter of this year.
Recently, $IQ released its first-quarter financial report. Gong Yu wrote a letter to shareholders in nearly 6000 words, which happens rarely . In the letter, he listed $IQ's current core problems one by one, including the slowdown of paid member growth and the lack of high-quality content.
$IQ is a leading enterprise in the domestic online video industry. With a diverse high-quality video content library. The year-on-year growth rate of online video users has dropped to a low point in recent years, because of higher market saturation and high platform replacement costs. As the number of netizens stabilizes, the penetration rate of online video is moving towards the upper limit of 80%, and the scale of onlinevideo users will tend to be more stable.
$IQ fell more than 6.98% pre-market to $10.53 on Monday.