China prominent video streaming media player, iQiyi is confronted with the challenge of low consumer willingness to pay. According to the unified theory of acceptance and use of technology (UTAUT) model and the relevant variables of the customer perceived value (CPV) theory, hypotheses was formulated and a research model was constructed. An empirical research was carried out through the Logit model. The results show that perceived usefulness, perceived cost, social influence, and individual paying consciousness all have significant effects on the willingness to pay of iQiyi users. Therefore, the following recommendations are proposed, which are delving into High-quality content intellectual property (IP), enriching the pricing system, creating word-of-mouth marketing, and focusing on the emotional value of youth. Targeted suggestions are put forward for iQiyi to explore new strategies.