NICE, France, June 24, 2016 /PRNewswire/ -- Speaking today at Lions Entertainment under the topic 'From East to West: New Frontiers of Content', Steven Chang, Corporate Vice President of Tencent, shared trends and insights of the China entertainment market, the viewing behavior and content demand of the young Chinese generation, and how Tencent can help content providers and brand marketers win in the burgeoning China market through content marketing and content co-creation. Lions Entertainment is a specialized event within the Cannes Lions International Festival of Creativity 2016.
Dedicated to endless creativity, Lions Entertainment explores the way talent and storytelling can elevate content into the cultural mainstream. Representatives from the converging worlds of TV, music, sports, artist representation and media join in a series of roundtables to analyze issues that stand in the way of progress and to celebrate how best to move the work forward.
The statistics from the State Administration of Press, Publication, Radio, Film and Television China show China's movie box-office is on course for another record year in 2016, having notched up more than $1.5 billion in ticket sales in the first two months of this year. Interestingly, China has a very different model for both content creation and content marketing. Of the top five box-office movies in China this year, only Fast & Furious is an international film.
Tencent's Penquin Intelligence Report indicates that though the post-90s generation accounts for only 15% of the Chinese population, they constitute 62% of the Animation Comic Game and Novel (ACGN) market, 55% of the video entertainment market and 78% of the game market. Enjoyable fiction and reality content are the things these young people love most.
"The explosive growth of high-quality entertainment content not only allows users to enjoy more top-quality content, but also provides more content marketing channels for brands," Chang said.
Having grown together with China's generation Z, so called "digital natives," in the past two decades, Tencent has not only accumulated the largest user base in China, but also knows China's Internet users better than anyone else. What's more, Tencent has developed the ability to develop super IP based on local insights, create content that resonates based on audience preference, as well as utilize technology to enrich the content experience. All of these combined makes Tencent a gateway for global brands that seek to enter the China market.
Video is one area where Tencent's innovation has proven especially effective. The box office revenue of the movie Monster Hunt, which Tencent Video invested in, achieved 2.6 times more revenue than that of a big-name International movie released at the same time. What's more, the content offered by Monster Hunt goes beyond the movie itself, and includes related games and extended products. "This is an excellent example of Tencent's ability to maximize content value through innovative IP extension," said Chang.
In addition to this, Tencent has purchased copyrights of many of the hottest TV Shows from HBO, Warner Brothers, NBA, and National Geographic. Tencent is also planning to create 27 widely anticipated series, including Three-Body and The Graver Robbers' Chronicles.
When it comes to Tencent's multi-platform capabilities, Chang shared a recent case study. Upon the launch of the BMW X1 in May 2016, the brand took the pioneering step of broadcasting a live music concert on WeChat Moments, and used QQ Music to connect audiences emotionally. Tencent broadcast the music live using its streaming technology significantly elevating the viewing experience and making it a milestone in terms of achieving the most comprehensive coverage and reach for young users.
In order to win in the China market, Chang urged all content providers and brand marketers to leverage local insights to understand the China culture and context, to build content and a content ecosystem that resonate with China's digital generation, and utilize technology to enhance content consumption and maximize the consumer experience.
Tencent uses technology to enrich the lives of Internet users. Every day, hundreds of millions of people communicate, share experiences, consume information and seek entertainment through our integrated platforms. Tencent's diversified services include QQ, Weixin/ WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com and Tencent News for information and Tencent Video for video content.
Tencent was founded in Shenzhen in 1998 and went public on the Main Board of the Hong Kong Stock Exchange in 2004. The Company is one of the constituent stocks of the Hang Seng Index. Tencent seeks to evolve with the Internet by investing in innovation, providing a hospitable environment for partners, and staying close to users.
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