About this weblog

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.

Thursday, November 16, 2017

Tencent Racks Up Rapid Growth

Tencent reported a 61% year-on-year increase in revenues to 65.2 billion yuan (9.83 billion US dollars) for the third quarter. Chairman and CEO of Tencent, Ma Huateng, said: "We recorded strong business and revenue growth across multiple business lines including games, digital content, online advertising and payment-related services. In particular, our video platform gained audience and revenue market share, we believe it has become China’s top online video platform in terms of mobile daily active users and subscriptions. We believe this success reflects our increasing investment in self-commissioned video content, our improved selection of licensed video content, and our scheduling and audience management initiatives."

The group said that Tencent Video has exceeded 43 million fee-based subscriptions, adding: "We will continue to increase our investment in video content, especially self-commissioned video content, and to reinforce our content recommendation algorithms."

Tencent also reported that it now has 980 million monthly active users of the Weixin/WeChat messaging service, representing year-on-year growth of 15.8%. The service handles approximately 38 billion messages a day, representing year-on-year growth of 25%. Tencent added that there are now 3.5 million monthly active Official Accounts (business accounts) with monthly active followers of these accounts reaching 797 million in aggregate, representing year-on-year growth of 14% and 19% respectively.  source: Tencent statement

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