A once unstoppable sector is getting used to a new normal
firms’ old businesses and giving them room to toy with new ones. And Tencent, whose market value has doubled in the past three months , is once again the embodiment of the changing mood. If you want to understand what all this says about the future of China’s digital economy, look to its humbled champion.
The linchpin of Tencent’s riches is its WeChat super-app. Companies around the world have for years attempted to ape its astute marriage of pay and play . Few have succeeded in doing so as seamlessly as Tencent—and none on anything like the same scale. Last month’shongbao , pushed digital life towards short-video sharing. In the past year the average Chinese spent more hours on such platforms than anywhere else online . Short-video apps are becoming the centre of China’s attention economy—and of its digital-ads business, which generated $35bn in sales in the third quarter of 2022, according to Bernstein, a broker. Between July and September short-video platforms claimed a quarter of those ad dollars; their ad sales jumped by 34%, year on year.
Tencent is reorienting the “transaction” parts of the WeChat economy around Channels, too. Notably, it is equipping the platform for “social commerce”. This
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
The shape of the post-pandemic economy in BritainThe latest GDP growth figures suggest the British economy will be living with the long-term effects of the pandemic for years
Consulte Mais informação »
Tencent scales back VR hardware plansTencent - one of the world's biggest game publishers - has scaled back plans to take on the metaverse with its own VR h…
Consulte Mais informação »
Andretti unfazed by Mohammed Ben Sulayem's step back from F1Mario Andretti doesn't think Mohammed Ben Sulayem's step back from F1 will have any effect on Andretti's F1 entry prospects.
Consulte Mais informação »
'Everybody circles 88 as the game wrecker': Jalen Carter is best yet from UGA D-linemen ranksGeorgia rode a generational defense to a national championship two seasons ago. And yet, the best player on that defensive line wasn't even eligible for the 2022 draft. Jalen Carter is being compared to Warren Sapp and Zion Williamson.
Consulte Mais informação »
The tech helping people get a better night's sleepIndividuals suffering from insomnia are increasingly turning to tech for assistance.
Consulte Mais informação »
Private equity firms seek piece of the impact investment actionThe sector is attracting big inflows — but with them come fiercer competition and closer regulatory scrutiny
Consulte Mais informação »