Tech giants Tencent Holdings launched its inaugural international video streaming service in Thailand on Friday. This move comes after the Chinese tech giant ramps up its popularity outside China. Tencent is expanding from its focus of the Chinese gaming market, which has been beset by regulatory problems, expediting revenue growth to its slowest-ever in the first portion.
“Tencent’s original Thai user field made the country an attractive primary target for its rapid surge into Southeast Asian market”, said Jeff Han, Senior Vice President of Tencent Penguin Pictures, which produces original content for the streaming business. “This is the market we wish to penetrate the business to try and see whether an international release could be a benefit for us so that we can proceed with the challenge,” Han told journalists in a press conference in Bangkok.
“We have our advantageous markets, mainly, the Chinese-speaking markets, which will be more sensitive to our offerings,” he said. In Thailand, Tencent Video will be declared WeTV and emphasise authentic Chinese content from Tencent Penguin Pictures with Thai dubbing, and content created with regional associates, Han said.
He refused to disclose the amount of funds being allocated to this project. WeTV continues to promote Tencent’s online music streaming setting JOOX and the mobile variant of PUBG games in Thailand. Tencent’s digital streaming support improved and got a raise by 43 per cent in the first part of 2019 on an yearly basis, according to a growth in digital content revenue as represented by the latest result index. Tencent has a organic following of 89 million subscribers in China and more than 200 million daily users.