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Ticket Platform Maoyan Allies With Tencent to Serve China’s ‘Entire Entertainment Industry’

By Zhao Runhua / Jul 10, 2019 11:55 AM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Hong Kong-listed online ticket service and entertainment enterprise Maoyan Entertainment is now in an official alliance with Tencent to expand product portfolios in more entertainment sectors, according to an official statement released Tuesday.

Maoyan said the alliance will allow it to cooperate with Tencent’s investment, filmmaking, music, and video arms especially in data and product management.

Though the tie-up was officially announced Tuesday, Maoyan has long been in partnership with Tencent in areas including advertising and content distribution. Tencent is a major shareholder of Maoyan, according to a stock filing.

Started as a ticket services platform, Maoyan relied on partnerships with China’s internet giants such as lifestyle platform Meituan Dianping and social networking app WeChat to fast expand its user base and gradually enter more complicated entertainment projects.

Maoyan CEO Zheng Zhihao said the alliance will allow Maoyan to become a “leading platform servicing the entire entertainment industry in China.”

But such ambition will be tested by fierce competition and a slowing entertainment industry where even major players are struggling to sustain growth. 

Related: As China’s Movie Industry Slumps, Executives Debate Its Future

Contact reporter Zhao Runhua (runhuazhao@caixin.com)

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