Chinese Streaming Platforms in Global Media Ecology: Case Analysis of iQIYI and Bilibili

Against the backdrop of global digital media transformation, with the deepening of cross-border media flows and the rapid iteration of digital communication technologies, the global streaming media industry has become a core carrier of cross-cultural communication and digital economic development. As one of the world’s largest and most dynamic digital media markets, China’s long-form video platforms face dual pressures from fierce internal competition and short-video traffic diversion. Based on the Wei-Zhu business model theory, which builds a complete, systematic analytical framework through six interlocking dimensions: positioning, key resource capability, business system, profit model, free cash flow structure, and corporate value, this thesis aims to conduct an in-depth analysis of the business models of iQIYI and Bilibili, two typical long-form video platforms. Through six-dimensional evaluation, this thesis identifies common dilemmas in the long-form video industry including content homogeneity, over-reliance on capital, imbalanced revenue structure, low user willingness to pay and so on. Then it proposes targeted optimization strategies covering positioning adjustment, technology-driven ecosystem building, diversified revenue layout, profit model innovation, global brand expansion and so on. This study not only enriches the research on digital platform business models in non-Western contexts, but also provides references for the globalization and sustainable development of streaming media platforms around the world.