In the bustling halls of the 39th annual MIPCOM, one of Cannes' most prestigious trade conferences for the television and entertainment industry, China secured an unprecedented place of honor. With China being named the 2023 Country of Honor, the spotlight shone brightly on one of the nation's leading digital powerhouses: Tencent Video.

Sun Zhonghuai, Vice President of Tencent and CEO of Tencent Video, delivers his keynote speech at the 39th annual MIPCOM in Cannes, France, on Oct. 16, 2023. [Photo courtesy of Tencent Video]

Led by Tencent Vice President and CEO of Tencent Video, Sun Zhonghuai, Tencent Video presented its grand vision of forging an "Eastern Universe," emphasizing a harmonious blend of art and state-of-the-art technology. During the Media Mastermind series at the event, Sun elegantly stated, "good content transcends borders," underscoring the universal nature of storytelling while offering a nod to potential international collaborations in content and streaming.

The last decade saw a meteoric rise of online video users in China, now surpassing a billion. Adapting to the dynamic preferences of this vast audience, platforms like Tencent Video have evolved their strategies. Instead of merely acquiring third-party productions, they now place a premium on crafting original, in-house content. This shift in strategy has seen Tencent pioneering a diverse range of content — from drama series and variety shows to animations, sports broadcasts, and documentaries.

In Sun's words, Tencent's objective is clear: "Tencent aims to be a leader in video entertainment, driven by art and technology." This sentiment captures the company's essence and underscores the value Tencent places on artists and creators. Within Tencent's extensive ecosystem, numerous innovative projects exemplify its dual focus. For example, Tencent transformed its standout mobile game, "Honor of Kings," into both a hit TV series and a novel.

International partnerships and adaptations also play a significant role in Tencent's global strategy. "The Three-Body Problem," a globally recognized sci-fi IP by acclaimed Chinese writer Liu Cixin, posed a challenging adaptation. Yet, after seven dedicated years, Tencent Video rolled out the immensely popular TV series "Three-Body." This series not only set a new trend for the sci-fi genre in Chinese TV dramas but also secured the prestigious Magnolia award for best art direction.

While Tencent continues to produce a wealth of original content, its platform remains open to a broad range of international shows. This inclusivity is facilitated by partnerships with entities like Formula 1 and the U.K.'s Coolabi Productions Limited.

While content is king, technology is the throne on which it sits. Sun underscored the symbiotic relationship, saying, "Technological innovation has been key to the success of China's online video industry." As AI heralds a new phase in entertainment, Tencent stays ahead, providing creators with innovative tools, including the recently unveiled "Hunyuan" Chinese large language model.

"Our aim is to free creators from mundane, repetitive tasks to focus on advancing their art and creating quality content," Sun stated, emphasizing Tencent's aim for universal appreciation. 

A huge poster of the "Three-Body" sci-fi TV series adorns a building during the 39th annual MIPCOM in Cannes, France, on Oct. 16, 2023. [Photo courtesy of Tencent Video]

Extending its reach, Tencent Video has expanded globally via WeTV. By translating over 10,000 hours of Chinese-language programming into 10 languages, WeTV has launched in more than 100 countries, with a significant presence in Southeast Asia. Its digital reach is noteworthy, boasting 50 million subscribers on YouTube and nearly 40 million followers on Facebook.

Reflecting on Tencent's ambitions and the journey thus far, Sun remarked, "With artists at the core surrounded by production, development, and management of key IP, we are building an online universe of Eastern culture." This distinctive Eastern charm is Tencent's unique offering to the international market, a bridge between cultures.

Only two years ago, Tencent articulated its mission to pioneer in video entertainment, driven by art and technology. Sun echoed this vision, asserting, "Whether art or technology, humanity remains at the core and is still the measure of all things."

In today's hyper-connected world, Tencent Video stands at the nexus of this global fusion of art, culture, technology, and humanity. Championing the professionalization of content production in China, Tencent Video is keen on deepening collaborations with global peers, Sun added.

Sun concluded thoughtfully, "The content industry is rich with new possibilities as we confront shared opportunities and challenges posed by novel technologies such as AI that have the capacity to reshape the industry. Going forward, Tencent Video will remain focused on the dual forces of art and technology to construct a multifaceted and distinct Eastern Universe centered around original IP. Together with our global partners, we will forge a path towards the industry's future."

Related

Go to Forum >>0 Comment(s)