Mango TV is also preparing to raise prices after iQiyi and Tencent Video: it made a profit of 2 billion last year

Since iQiyi took the lead in announcing a price increase at the end of last year, other domestic video websites have followed suit. In early April, Tencent Video announced a price increase, with the monthly card rising to 30 yuan. Now Mango TV is also preparing to follow suit and will also increase prices this year.

Mango TV's parent company Mango Super Media recently stated in an institutional survey that raising membership prices is not an urgent action for us, and we will fully consider the demand and pace of price increases as a whole.

Mango Super Media said that from the perspective of industry development, membership price increases have become a trend, and we will consider raising prices during the Youth Mango Festival or the Spring Festival this year.

In addition, based on Mango's genes and development logic, Mango's members are more fan-oriented members, adopting an operation strategy that combines online and offline operations, and will further consolidate the construction of the member rights system in the future.

In the medium term, Mango TV plans to reach a membership base of around 80 million within 2-3 years.

Mango Super Media did not mention the specific time of the price increase, but the Youth Mango Festival is usually held in late July or early August, which means that Mango TV will increase its prices as early as July this year.

Currently, the annual membership fee for Mango TV on computers, iPads, and mobile phones is 198 yuan, a continuous annual subscription is 178 yuan, and a first-time purchase is 118 yuan.

The annual package for full-screen movie and TV membership, including TV, box, PC, mobile phone and iPad, is 488 yuan, and the annual package is 285 yuan.

It is worth noting that Mango TV is different from other video websites. An important reason for the price increase of iQiyi and Tencent Video memberships is that they have been suffering huge losses, while Mango TV is the only profitable one among the major video websites.

According to their financial report, in 2020, Mango Super Media achieved revenue of 14.006 billion yuan, a year-on-year increase of 12.04%; net profit was 1.982 billion yuan, a year-on-year increase of 71.42%. During the same period, the company's cash flow from operating activities was 581 million yuan, a year-on-year increase of 98.37%, a brilliant performance.