Netflix (NASDAQ: NFLX) and iQiyi (NASDAQ: IQ) are two of the world's largest streaming video platforms. Netflix ended its latest quarter with 231 million paid subscribers, but it's never launched its app in China. iQiyi, which mainly operates in China, served 101 million subscribers last quarter.
iQiyi was heralded as the "Netflix of China" when it went public in 2018. But today, it trades nearly 70% below its IPO price of $18. The bulls retreated as it lost subscribers, failed to generate any profits, and took on more debt. Netflix's stock lost about a third of its value over the past 12 months as investors fretted over its slowing growth, but it remains nearly 32,000% above its split-adjusted IPO price of $1.07 per share in 2002. Will Netflix remain a better streaming video play than iQiyi in 2023?
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Better Streaming Video Stock: Netflix vs. iQiyi