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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Friday, March 18, 2016

Performance-Related Advertising Lifts Tencent

Chinese Internet group Tencent reported a 30% increase in revenues for 2015 to 102.86 billion Chinese yuan (15.84 billion US dollars). In the fourth quarter, revenues were up 45% year-on-year, boosted by a 118% rise in online advertising revenues to 5.7 billion yuan. Tencent said that performance-based advertising revenues increased by 157% to 2.92 billion yuan, "mainly reflecting revenue growth from Mobile Qzone and Weixin Official Accounts, as well as contributions from newly launched advertising service on Weixin Moments."

Tencent added that the combined monthly active users of the Weixin and WeChat messaging services reached 697 million at the end of 2015, representing annual growth of 39%. "Official Accounts became a leading platform connecting users to content creators, merchants and advertisers," it added. "Weixin Pay also became increasingly popular. The volume of red envelopes exchanged via Weixin Pay exceeded 32 billion within six days during the Lunar New Year holidays in early 2016, growing by 9 times year-on-year." source: Tencent statement

For more on Weixin/WeChat and the rise of conversational commerce, see my recent report for STL Partners.

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