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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Maoyan Entertainment    1896   KYG5804A1076

MAOYAN ENTERTAINMENT

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Maoyan Entertainment : Cooperating with Tencent Video to Develop Comprehensive Entertainment Consumption Platform

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10/24/2019 | 12:07am EDT

BEIJING, Oct. 23, 2019 /PRNewswire/ -- Maoyan Entertainment ("Maoyan" or "the Company") (Hong Kong: 1896), a leading platform providing innovative Internet-empowered entertainment services in China, and internet giant Tencent today announced that they have made significant progress in their strategic alliance. Maoyan and Tencent Video have nailed down cooperation framework to integrate their ecosystems and resources to develop China's leading and comprehensive entertainment consumption platform.

Maoyan and Tencent launched their strategic alliance in July in Beijing.

Maoyan and Tencent have been strengthening cooperation after their strategic alliance was launched in July this year. The in-depth collaboration between Maoyan and Tencent Video is another milestone, following the partnership between Maoyan and Tencent Pictures to jointly build an advanced movie promotion and distribution system in China.

"Maoyan is opening up its platform capabilities to its strategic shareholder Tencent and more partners, including Tencent Video and Tencent Pictures, to grow the entertainment market together and drive the industry development," said Maoyan CEO Zheng Zhihao.

With this partnership, Maoyan and Tencent Video will integrate their ecosystems by converging traffic, promoting a joint membership program, and by sharing data, to propel the industry growth.

Maoyan and Tencent Video will converge their massive traffic to develop a leading and comprehensive entertainment traffic system in the country. As the exclusive ticketing partner for Tencent Video, Maoyan will embed its ticketing platform into Tencent Video, creating a one-stop ticketing service that covers both online and offline consumption. The two companies will integrate their quality content and platform resources and exchange traffic to realize full coverage of users and channels.

The two companies will design a joint membership program for entertainment consumption. They will launch joint promotion packages and offer collective membership benefits to provide more valuable membership experience, which will help support the consumption upgrade and contribute to expansion of the entertainment market.

Maoyan and Tencent Video will also share their data to better promote quality entertainment content. Maoyan's data platform will provide user research and related data support for Tencent Video's self-produced content.

Meanwhile, for the live entertainment market, Maoyan and Tencent Video will create synergy with their online and offline advantages and resources to promote ticket sales for live performances. The two companies will also explore opportunities to produce quality live performances and jointly develop related video programs, which will help invigorate the live entertainment market.

Through their strategic alliance, Maoyan and Tencent will continue to deepen cooperation across various entertainment sectors, including movies, TV shows, live performances, music, and short videos, to lead entertainment industry growth in China.

About Maoyan Entertainment

Maoyan Entertainment (Hong Kong: 1896) is a leading platform providing innovative Internet-empowered entertainment services in China. Since its inception, Maoyan has grown from an online movie ticketing service provider to an innovative one-stop platform for entertainment services. Maoyan has a comprehensive strategy to become a leading platform servicing the entire entertainment industry in China. The upgraded strategy is supported by five key platform pillars: online ticketing platform, products and services platform, data platform, marketing platform, and funding platform.

For media inquiries, please contact:

Jeff Pei
ICR Inc.
Email: Jianfeng.Pei@icrinc.com 
Tel: +86 (10) 6583 7514

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SOURCE Maoyan Entertainment

© PRNewswire 2019

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