The company reported total revenues of RMB 7.2 billion, marking a 9% increase sequentially, primarily due to the success of its long-form dramas and diverse content offerings. Membership services revenue also rose to RMB 4.4 billion, while online advertising revenue fell by 7% due to macroeconomic challenges. Content costs rose 10% to RMB 3.8 billion as part of the company's commitment to investing in original content. The firm saw a continual decline in convertible debt, reflecting strong debt management practices, while operating cash flow remained positive for twelve consecutive quarters.
Total revenues for the company reached RMB 7.2 billion, reflecting a strong 9% sequential growth, driven primarily by the performance of long-form dramas and a diversified content offering.
The rise in content costs, which increased 10% to RMB 3.8 billion, is indicative of the company's strategy to invest heavily in premium original dramas, despite short-term financial pressures.
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