WeChat head Allen Zhang Xiaolong used to approve every change to Tencent’s flagship social media app, down to the colors and fonts.But, as WeChat surpasses 1 billion users and plays host to more than 1 million mini-apps on its ecosystem, operations have finally become too big for him to oversee everything.How to stay agile and nimble in a rapidly changing social media landscape with a top-down approach for a 2,000-strong team, and what happens to strategy should Zhang one day leave or step back, were among the top issues on the minds of WeChat executives as the app enjoys its perch as China’s most dominant super-app.These discussions, gleaned from interviews by the London Business School for a business case study and in written comments provided to the South China Morning Post, offer a rare glimpse into the inner workings of a unit that dominates the country’s social media scene.“I admit I am very dictatorial,” Zhang, 49, told the London Business School for its case study.“A product needs to have a strong identity in order to have everything in coherence.”
The mobile version of PC and console hit PlayerUnknown’s Battlegrounds continues to break records.According to market researcher App Annie, the free-to-play PUBG Mobile now has over 100 million monthly active users (MAUs).That’s not bad for the multiplayer battle royale shooter, which launched on iOS and Android just a little over a year ago.It has since brought in more than $100 million for publisher Tencent (an investor and partner to PUBG developer Bluehole).To celebrate the new milestone, Tencent announced that the Royale Pass Season 7 is now live alongside PUBG Mobile’s 0.12.5 update.In addition to various gameplay adjustments, the new update adds the Skorpion machine pistol, rare avatar skins, and a server dedicated to players in the Middle East.
If you are facing Tencent Gaming Buddy stuck at loading issue, then try these fixes.With these four solutions, you can solve Tencent Gaming Buddy (PUBG) stuck at loading issue quickly.1.Reinstall the Gaming Buddy emulatorSolutions 1: Remove the Temp folderBefore you delete the Tencent Gaming Buddy from your system, try this solution.If your game was running fine but suddenly, start stuck at loading then cleaning temporary files may help.Follow the instructions to remove temporary files:1.You’ll find a path for the temp folder at the lower side of the diagnosis box.4.If you have antivirus app installed in your computer then possible, it may stop PUBG from loading.Go to antivirus settings and disable the antivirus.
Japan to unify mobile payment codes, enlisting Chinese giants – Nikkei Asian ReviewWhat happened: Chinese tech giants Alibaba and Tencent are among the five internet companies that will help Japan standardize QR code payment.Other companies also taking part in this endeavor include Japanese messaging service Line, e-commerce platform Mercari, and mobile carrier NTT Docomo.Why it’s important: Mobile payment has become increasingly popular in Japan, but it is fragmented.There are more than a dozen payment service providers in the space and each has its own QR code standard.China’s leadership in cashless payments has nurtured homegrown payment companies which are eager to make inroads into other countries.
After several failures of wanna-be Pokémon Go-likes in mainland China, Tencent’s new mobile game “Let’s Hunt Monsters” is a hit: it immediately climbed to the top of the free game chart in the Chinese Apple store after being released in mid April.A month later, it’s still at number six.What Tencent didn’t promote—and few have noticed—is the company’s first experiment with blockchain gaming.This might ultimately test the boundaries of Chinese regulation, which adamantly prohibit crypto trading.Now I’m running a virtual kitten mill off my cell phone: I’ve got a collection of 109 cats, two of whom are breeding.These visual traits were assigned randomly from a collection of virtual genes—currently 201.
Alibaba Group has acquired about RMB 4.36 billion ($635 million) worth of convertible bonds in Red Star Macalline, one of China’s biggest furniture retailers.If converted, this would give Alibaba about a 10 percent stake in the company.It also purchased 3.7 percent of Red Star Macalline’s publicly traded shares on the Hong Kong stock exchange, according to a disclosure.Red Star Macalline operates about 300 shopping malls and 364 home improvement centers throughout China, leasing space to retailers in addition to selling its own inventory and services, including interior decoration consultations and construction.The company will work together with Alibaba to improve its physical stores and take advantage of the latter’s e-commerce channels.This investment comes about six months after Red Star Macalline announced a digital marketing partnership with Alibaba rival Tencent.
Tiger Global had at the Spotify listing in april 2018 has emerged as the company's fourth largest shareholder, after Martin Lorentzon, the chinese group Tencent and Daniel Ek.The venerable hedge fund shall, under the Di Digital's data have been a frequent purchaser of existing shares in 2017.the Tigers köpvillighet helped to raise Spotify's share price on the secondary market before the company went to the stock exchange.Just like Tencent, which invested heavily in Spotify, a few months prior to the listing, took on the Tiger all its voting rights to the president and ceo, Daniel Ek.This is according to documents filed to the us securities and exchange commission (SEC).Tiger, as the founder and dollarmiljardären Chase Coleman, sold just over 4.6 million shares in Spotify during the period.
Tencent announced first quarter 2019 profits of RMB 27.9 billion ($4 billion), posting 16% growth year on year driven by strong earnings from the company’s fintech and cloud businesses.However, revenue growth was the slowest on record as the titan struggles to recoup losses from increased gaming regulations in China.Tencent grew its revenue 16% year on year to RMB 85.5 billion in the first quarter.RMB 21.8 billion came from fintech and other businesses including payment services and cloud computing, which posted strong 44% year-on-year growth.Fintech and cloud revenue momentum helped offset a disastrous period for games due to increased regulatory oversight.The company released only one new mobile title—Perfect World Mobile—in the first quarter.
Tencent’s WeChat blocks learning apps from incentivising users to spam, saying it breaks rules – South China Morning PostWhat happened: On Monday, WeChat reiterated its rule against companies offering rewards for users to share advertising-related content, naming educational apps in particular.WeChat said that repeated violations would result in accounts being shut down, citing examples like English-language learning applications Mint Reading and Liulishuo.Both offered incentives, through tuition specials for instance, for users to share links to their services on WeChat’s Moments newsfeed feature.The promotions harmed user experience, WeChat said.Why it’s important: Although the rule against incentives already existed, the recent reminder could be a wake-up call for educational companies which depend on WeChat’s word-of-mouth advertising.
Tencent’s Video-Streaming Service WeTV Comes to Taiwan – Yicai GlobalWhat happened: On Monday, a Taiwanese news outlet reported that Tencent’s video-streaming service, WeTV, had arrived on Taiwanese shores through its subsidiary Image Future Investment HK.Currently, users can sign up for monthly or quarterly content plans priced from NTD 190 to NTD 560 (around $6 to $18).The app, which is available on iOS as well as Android, had been downloaded 500,000 times on the Google Play store as of Monday.Why it’s important: While Taiwan’s total population of 23 million represents only a small fraction of WeTV’s user base, the territory has a wireless internet penetration rate of 100%, with residents clocking relatively high monthly average rates of online traffic.Tencent’s move came as a surprise, however.
NetEase has on Monday updated its existing anti-addiction game system, adding a new feature that allows parents to monitor and control the time and money their children can spend on NetEase’s 15 major titles.The feature, named “child guardian,” follows by more than two years Tencent’s “super parent,” which is most famous for giving parents the ability to kick their kids out of a game with the click of a button.While NetEase’s version doesn’t give parents that kind of power, it does enable monitoring the duration of time children spend in games and the time of login, both down to the second.Parents can also set in advance times when access will be blocked.A NetEase spokesman told TechNode that the absence of “one button ban” is to help parents manage the playtime of underage users in a “more targeted and flexible way.”“Child guardian” also let users limit their kids’ in-game spending.
Tencent Music Entertainment reported that its profit for the first quarter of 2019 went up as it earned more from online karaoke and livestreaming services amid a growth in paying subscribers.The company said that new features on its online karaoke app helped it earn more revenue from its social entertainment business, which is its largest in terms of revenue.Monthly average revenue per user for its social entertainment business, which includes online karaoke and livestreaming, rose 28.1% to RMB 127.5 ($US 18.55) in Q1 compared with a year earlier.Paying users for the company’s online music service rose 27.4% to 28.4 million compared with a year earlier.This increase is a sign that Tencent Music’s investments in premium content are beginning to pay off.“As our users increasingly consume music content through streaming services, we are riding on this trend to gradually transition into a pay-for-streaming model over the coming years,” said Tencent Music CEO Cussion Pang.
Tencent Music Entertainment Group (TME) recorded healthy growth in total revenues, operating profit, and paying users in the first quarter of 2019.Driven by a significant increase in paying users, revenues in the three months ended March 31 grew close to 40% year on year to RMB 5.74 billion ($855 million) but still fell short of analyst estimates of RMB 5.8 billion.Operating profit increased by nearly 30% year on year to RMB 1.15 billion.Mobile monthly active users (MAUs) for online music and social entertainment services rose slightly, but paying users for the two segments increased by more than 27% and 12% year-on-year respectively, reaching 28.4 million and 10.8 million.However, the percentage of paying users remained flat at around 4% of the total mobile MAU for TME’s online music service, same as in 2018.Monthly average revenue per paying user (ARPPU) for social entertainment, which include online karaoke platform WeSing and concert live-streaming platforms Kogou Live and Kuwo Live, grew substantially, rising 28% year-on-year to RMB 127.5.
What happened: Mogu Inc., the fashion and lifestyle e-commerce platform backed by Tencent, rolled out on Friday a platform to connect livestreamers and cosmetics brands.Mogu Global Cosmetics Supply Chain Pool (our translation) helps livestreamers gain access to various brands and select cosmetics by offering product details, price fluctuations, delivery time, and historical sales.Brands and suppliers can meanwhile view the recent sales and areas of expertise for each livestreamer.The company aims to include 1,000 brands this year and add clothing brands to the platform in the future.Why it’s important: Although the live-streaming boom is cooling down in China, it is becoming a larger part of the country’s e-commerce industry.More traditional e-commerce platforms like Taobao are leveraging the technology to offer a more interactive, immersive shopping experience.
Tencent’s Game for Peace Surpasses $14 Million in 72 Hours on China’s App Store – Sensor TowerWhat happened: Tencent’s “PUBG Mobile” replacement for the China market, “Game for Peace,” raked in more than $14 million just 72 hours after it became available on Apple’s China App Store, making it the world’s highest-grossing mobile battle royale title on iOS for that period, according to a report from analytics firm Sensor Tower.During the same period, “PUBG Mobile,” which is still available outside China, brought in around $2.2 million on iOS, and its biggest rival, “Fortnite,” grossed an estimated $4 million on the same platform.Why it’s important: Tencent abruptly shut down “PUBG Mobile” on May 9 and replaced it with a more compliant title, “Game for Peace.” Unlike “PUBG Mobile”, which couldn’t bring in any revenue in China because of the lack of an approval from China’s State Administration of Press and Publication (SAPP), “Game for Peace” received its license in April and has been able to monetize since launch.While players aren’t pleased with the changes the new title made to its predecessor, the amount of in-app purchases that they are making indicate that “Game for Peace” is still likely to achieve business success.
Editor’s note: A version of this piece by Jason Si originally appeared on the World Economic Forum Agenda website.For the sake of the global public good, we need something serious and more specific to safeguard our limitless ambitions—and humanity itself.This is especially true in an age in which a good deal of our daily life is driven by big data and artificial intelligence.Already with AI we have seen numerous examples of such issues: namely, unintended behaviors, lack of foresight, difficulties in monitoring and supervision, distributed liability, privacy violations, algorithmic bias and abuse.Moreover, some researchers have started to worry about a potential rise in the unemployment rate caused by smart machines replacing human labor.We are marching into unmapped territory—which is why we urgently need rules and guiding principles as a compass to guide us in the right direction.
Chinese e-commerce giant JD released on Friday stronger-than-expected earnings for the first quarter this year thanks to strong performance from its core e-commerce business and renewed strategic agreement with Tencent.The company reported net revenues of RMB121.1 billion ($18.0 billion) in the first quarter of 2019, an increase of 20.9% from the first quarter of 2018, beating the Refinitiv’s forecast of 120.1 billion.Net service revenues for the period were RMB 12.4 billion, an increase of 44.0% from the first quarter of 2018.The company also renewed its three-year tie-up with Tencent.Under the agreement, Tencent will offer JD level one and two access points on its WeChat to provide traffic support, and cooperate on a number of areas including communications and social services, advertising, and membership services, among others.The company’s logistics arm, which lost RMB 2.8 billion in 2018, weighed on the e-commerce giant.
Alibaba Group’s affiliate online payment service company Ant Financial has secured a virtual bank license from Hong Kong authorities, according to a statement.The largest fintech company in the world offers a full suite of products to offer digital financial services to individuals, as well as small and micro enterprises.Ant Financial also currently operates Alipay, a payment and lifestyle platform that currently serves over 1 billion users worldwide with its regional e-wallet partners.Looking forward, the company said it plans to work with various sectors in Hong Kong to further spur the development of fintech and financial inclusion in the country.To be eligible for a license, the country’s authorities require digital banks to have a minimum capital of roughly US$38.2 million.In February, it was reported that the Hong Kong SAR Government and the Hong Kong Monetary Authority were gearing up to issue digital banking licenses to six Chinese tech firms, which included Ant Financial, internet and gaming group Tencent, smartphone maker Xiaomi, and online insurer Zhong An.
What happened: Hong Kong Monetary Authority (HKMA) today issued four more licenses for operating virtual banks.The new permits have been granted to Ant Financial, Tencent’s Tenpay, Xiaomi subsidiary Insight Fintech, and Ping An’s fintech arm OneConnect.Why it’s important: The Hong Kong authority has granted eight companies the green light to operate online-only banks since the first batch of licenses was issued in March.Affiliates of Chinese online retailer JD.com’s fintech arm and online travel agency Ctrip’s financial unit were among the first to secure a license.Licensed companies are expected to begin operation in six to nine months.New virtual banks are expected to breathe fresh air into Hong Kong, which has long relied on traditional banking.
Players aren’t pleased with the changes Tencent made in “Game for Peace,” the patriotic replacement of “PUBG Mobile” in the Chinese market, castigating the game on social media and app stores.“Game for Peace,” which officially replaced “PUBG Mobile” on Wednesday afternoon, retained the core mechanisms of its predecessor but tweaked a number of details to make it more regulation-friendly.The story background was switched from a battle royale match, where up to 100 players scavenge for weapons and equipment and fight others on an island until there is only one left standing, to an anti-terrorism military skills competition that is “open to tourists from around the world.”When players are defeated, instead of immediately disappearing and dropping all their equipment in a loot box like they used to in “PUBG Mobile,” they suddenly sit up, reach for their back pocket, place a loot box with all their gear in front of them, and wave goodbye before disappearing.“The waving feature is super annoying,” a Weibo user by the handle “Babybreath_lemon” said.“Every time I saw that I felt [the enemies] were not dead, so I shot them some more.”