China’s Tencent Video Touts 62.5 Million Subscribers

In a subtle effort to undermine Netflix’s tepid foray into China, Tencent Video, the erstwhile communist country’s largest SVOD service, March 18 issued a press release in the United States touting its subscriber prowess.

Tencent said it surpassed 62.5 million subscribers at the end of February – 18% more than Netflix’s 52.8 million domestic subs at the end of December 2017.

The service reported 43 million subs at the end of last September. Tencent also generated 137 million average mobile daily active users in the fourth quarter of 2017.

Citing third-party research, the service said it covered 790 million video streaming devices in January 2018 – nearly 100 million units more than the next service. It streamed 80% of the top 20 most popular TV dramas in China.

Netflix last April inked a license deal with streaming platform iQIYI (20 million subs) after standalone attempts to enter China failed due to government regulators.

Indeed, Disney’s upstart OTT video platform, DisneyLife, was pulled by regulators as was buying movies on iTunes – the latter lasting just seven months after launching.

Tencent said it has built its sub base on local content, Dolby Vision, Blu-ray (1080p resolution) and interactive screen, among other features.

The TV dramas include “The Nothing Gold Can Stay,” “Candle in the Tomb,” “Country Love Story,” “The Eternal Love,” and “A Love So Beautiful.”

“At Tencent, we always endeavor to offer superior user experience and member services,” Thirty Sun, VP of Tencent and CEO of Tencent Penguin Pictures, said in a statement.

 

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