Quarterly Ad Revenues Jump 45% at Chinese Internet Giant Tencent
Chinese internet giant Tencent Holdings said fourth-quarter ad revenues jumped 45% from the same period a year earlier. The company now gets nearly a fifth of its revenues from advertising, a growing opportunity at a company long powered by its popular online and mobile games.
Tencent was just named the most valuable brand in China in a BrandZ ranking by WPP and Kantar Millward Brown. Its star product is all-purpose app WeChat (called Weixin in Chinese), which is a mobile toolkit for everything from payments to chat to services. The company said WeChat has amassed 889 million monthly active users; the majority of those are presumed to be in mainland China, since the app hasn’t caught on overseas like the company once hoped.
Tencent’s overall quarterly sales, including everything from ads to its top-grossing Honor of Kings game, hit $6.37 billion, up 44% year-on-year. Quarterly net profit jumped 46% to about $1.53 billion.
Source:: Advertising Age – Digital