of their own good-looking videos from Baidu. This is an external cause . From the internal point of view, membership income and advertising income are zero sum . Video Wars 2020 It is clearly written in iQIYI's membership rights and interests that members enjoy exclusive advertising privileges and reduce pre-roll advertising time. Of course, iQIYI is already enough chicken thieves. What you can only remove when buying a member is the "pre" and "patch" advertisements, and it is "reduced", not "eliminated". That is to say, members have to watch at least 5 seconds of pre-roll advertisements, and the small advertisements inserted in the middle, corner advertisements, post-roll advertisements, pause advertisements... These are not included in the membership privileges. But no matter how many thieves there are, the essence of members is that they do not want to watch advertisements. The more people who are willing to spend money, the fewer people who are willing to watch advertisements . And the rest are people who would rather watch an ad than spend a little money. Where is the advertising value of these people? Even if there is no external impact, with the increase in the number of members, iQiyi's advertising revenue will inevitably enter a cliff-like decline when the member sms marketing service penetration rate passes a certain critical point . Therefore, we can also say that iQiyi's advertising revenue is irreversible and inevitable collapse due to internal and external troubles. Of course, now due to external factors, iQiyi's advertising revenue has collapsed before membership revenue is fully established.