User:Kris1019/Tencent Video

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Tencent Video launched in April 2011. It is a Chinese online video platform with video streaming content and media operation capabilities. Tencent Video is owned by Tencent Company, which was founded in November 1998 in Shenzhen, China. Tencent Video has an international version, WeTV, which officially launched in 2018. In the third quarter of 2021, Tencent video reported a subscriber base of 129 million. On April 10, 2021, Tencent Video made adjustments on its subscription price with a 50% higher fee compared to the original price.

Tencent Video's business includes developing original content and supporting original programs, home-made drama, micro-movie, and short film contest while attracting younger user groups.

History
In April 2011, Tencent Video officially launched with an independent domain. Tencent Video supports online Video-on-Demand and television broadcasts, and provides list management, video volume amplification, color quality adjustment and other functional services as part of video delivery.

In July 2017, Tencent Video started distributing video content through a partnership with the Chinese television manufacturer TCL.

In October 2017, Tencent Video' reported revenue of CNY 65.2 billion (US$9.87 billion). In September 2017, Tencent Video was one of eight Chinese apps in the top 30 highest-grossing mobile apps in the Apple App Store and Google Play Store. In October 2017, Tencent Video ranked among the top 15 apps with respect to global consolidated monthly income. Tencent Video also ranked top in revenue of iOS entertainment applications in China in October 2017.

Tencent Video's international version is WeTV, which was launched in 2018.

As of March 2019, Tencent Video had over 900 million mobile monthly active users, and 89 million VIP subscribers.

In April 2021, Tencent Video decided to increase its subscription price by 50 percent of its original price, this action was supposed to be mostly implemented before 10th April 2021.

As of third quarter of year 2021, Tencent Video reached 129 million active subscribers.

Company Structure
Tencent company is consisted with 6 different groups, they are CDG (Corporate Development Group), CSIG (Cloud & Smart Industry Group), IEG (Interactive Entertainment Group), PCG (Platform & Content Group), TEG (Technology Engineering Group), and WXG (Weixin Group).

WeTV
WeTV is an international version of Tencent Video which operates functions as Tencent Video, providing video media content to international users. WeTV is registered in Hong Kong and bonded legally with Tencent Company.

WeTV has two subscriptions modes Free Tier, and Paid Subscription. With Free Tier, users will watch advertisements by the site while streaming videos. With Paid Subscription, users will have more control on the qualities of videos and faster Tv series updates.

Membership
Tencent Video VIP announced through Weibo that the membership price will be adjusted from 0:00 on April 10, 2021, and the new VIP price will be implemented. After the adjustment, the new Tencent Video membership price is 20 yuan for a continuous monthly subscription, 58 yuan for a continuous seasonal subscription, 218 yuan for a continuous annual subscription, 30 yuan for a non-consecutive VIP monthly card, 68 yuan for a non-consecutive VIP quarterly card, and 253 yuan for a non-consecutive VIP annual card.

Business Rivalry
After Tencent Video adjusted its subscription fee, a rivalry emerged between Tencent Video and iQiyi to be the "lead" video streaming platform. As of August 17th, Tencent Video has gathered 457 million monthly active users, while iQiyi reports 442 million monthly active users during the same time period. The two platforms also compete for key demographics, with iQiyi reporting that 33 percent of their users are age 25-30, compared to Tencent Video's user group in the same age is between 29 to 30 percent. Each company offers different features, leaving the market contested.

Availability
As of July 12, 2021, Tencent Video could only be accessed in China

Events

 * June 2011: the Tencent Video documentary channel was officially launched.
 * August 2012: Tencent Video reached 200 million daily average broadcasts.
 * April 17, 2013: Tencent Video's first British drama "Happy Lovers" (Coupling) was independently broadcast on their website.
 * April 27, 2013: Tencent Video reached an agreement with six major production companies including BBC Worldwide, ITV Studios, Fremantle Media, All3Media International, and Endemol.
 * June 3, 2013: Tencent Video's British TV channel was launched, which was China's first British drama broadcast platform.