• Loading stock data...
Friday, November 22, 2024

Tencent To Focus On Own Game Streaming Platform

  • Tencent is allocating resources toward its own game streaming platform.
  • This follows a merger blocked by China’s antitrust regulator.
tencent_logo_behind_man
Tencent/Design: Alex Brooks

Tencent is building its own game streaming platform after its merger of China’s two most popular video game streaming sites — Huya and DouYu — was blocked by China’s antitrust regulator, according to Bloomberg. 

Tencent is battling both antitrust concerns and new restrictions in China on the amount of time children can play video games — a max of only three hours most weeks. 

As a result, the company, which counts value-added services — video games, online advertising, and social networks — as a third of its revenue, saw its stock drop 1.03% by market close on Monday.

Despite the inability to merge the platforms, Tencent continues to expand its offerings. 

  • It signed a three-year deal in April with Major League Baseball to broadcast in Asia. 
  • The company inked a multiyear distribution deal with Sony Music in May. 
  • It took a majority stake in Berlin-based game maker Yager in June. 
  • Last month, it acquired British gaming company Sumo Group for $1.27 billion. 

The company generated $21.5 billion in revenue in Q2 2021, a 20% increase year-over-year. 

The value-added services segment (video games, online advertising, and social networks) brought in $11.1 billion in Q2 revenue, up 11% from the same period a year prior.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?

Executive Decision: When Richard Nixon Named a College Football Champion

In 1969, the 37th president unilaterally named the winner of the season.
podcast thumbnail mobile
Front Office Sports Today

What’s Next for Hapless Jets?

0:00

Featured Today

How Women’s Sports Could Change in the Next Trump Era

Under the president-elect, Title IX could change drastically.
Former President Donald Trump waves to the crowd as he exits the putting green with his aide Walt Nauta, left, during the final round of the LIV Golf Bedminster golf tournament at Trump National Bedminster on Sunday, Aug. 13, 2023.
opinion
November 9, 2024

Trump Win Puts Sports Back in the White House

With Trump back in the White House, sports get more political again.
Members of the NY Giants run onto the field to start the game between the New York Giants and the Washington Commanders at MetLife Stadium in East Rutherford on Sunday, Nov. 3, 2024.
November 8, 2024

The NFL Is Becoming the League With No Borders

Where will the NFL go next? International expansion will only get bigger.
November 5, 2024

NFL Center Connor McGovern Is the Heir to a Potato Empire

The NFL vet’s family provides potatoes for McDonald’s, Wendy’s, and others.

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
July 24, 2024

The Perfect Storm Propelling ‘EA Sports College Football’ to Early Success

Growing fandom and a long wait have already reaped dividends for EA.
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
July 20, 2024

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 3, 2024

Esports Winter: NBA 2K League Hits Pause Button Amid Industry Decline

The previously high-profile esports league is now effectively on hiatus amid widespread layoffs.
June 14, 2024

IOC Proposes Holding Separate Olympics for Esports

The organization’s executive board has proposed a separate Olympics for online gaming.