TENCENT

Company Overview

Tencent uses internet technology to provide services to improve daily life. The company also develops games and streams e-sports events. Established in 1998, Tencent is headquartered in Shenzhen, China, with offices in Amsterdam, Bangkok, Kuala Lumpur, Shenzhen, Hong Kong, Taipei, Seoul, Tokyo, and Palo Alto. The company’s business is divided into four operating segments: VAS, Online Advertising, Business service, and Others. The VAS segment provides consumers with digital content services such as Tencent Games, video, picture, sports, news, e-sports, and comics and animations.

Tencent over the years has been focused on investing in digital content, growing its subscription business, and extending the franchise in long-form video to short-form video. During 2021, the company strengthened its leadership in mobile payment services by deepening penetration among offline merchants. Revenues from VAS business increased by 10%. The company has also been focusing on commissioning and creating in-house content, especially in areas such as drama series, anime series, and variety shows. As of October 2022, Tencent Video has 120 million paid subscribers, making it the fourth-largest streaming service in the world, after Netflix, Amazon Prime Video, and Disney+.