China’s Tencent reported disappointing profits in the fourth quarter on the back of surging costs but saw emerging businesses pick up steam as it plots to diversify amid slackening gaming revenues. Net profit for the quarter slid 32 percent to 14.2 billion yuan ($2.1 billion), behind analysts’ forecast of 18.3 billion yuan. The decrease was […]
View More Tencent Q4 profit disappoints, but cloud and payments gain groundCategory: iQiyi
Baidu’s video site iQiyi adds 37M subscribers in 2018 amid mounting losses
China’s Baidu, which is often compared to Alphabet’s Google, is showing no signs of slowing down its pace of betting on video content as its core advertising unit feels the squeeze from rivals. The company’s latest financial results show its video streaming business iQiyi posted a net loss of 9.1 billion yuan or $1.3 billion in 2018, […]
View More Baidu’s video site iQiyi adds 37M subscribers in 2018 amid mounting lossesAlibaba takes an 8% stake in Tencent-backed anime streaming site Bilibili
Ecommerce giant Alibaba is continuing its push into the world of youth culture after it scooped up an 8 percent stake in anime streaming and game publishing company Bilibili. According to a securities filing on Thursday, Alibaba’s Taobao marketplace has acquired about 24 million shares in Bilibili, the Shanghai-based firm that has captured 93 million monthly users […]
View More Alibaba takes an 8% stake in Tencent-backed anime streaming site BilibiliIt isn’t just apps. China’s cinemas broke records during Lunar New Year
China celebrated Lunar New Year last week as hundreds of millions of people travelled to their hometowns. While many had longed to see their separated loved ones, others dreaded the weeklong holiday as relatives awkwardly caught up with them with questions like: “Why are you not married? How much do you earn?” Luckily, there are […]
View More It isn’t just apps. China’s cinemas broke records during Lunar New YearAlibaba’s growth slows to lowest in 3 years
China’s Alibaba continues to see slowing expansion in the latest quarter, but the e-commerce giant’s effort to spur new growth from new arenas have started to bear fruit. The Hangzhou-based firm rang up $17 billion in revenue during the third quarter of 2019. That’s a 41 percent increase from the previous year but it also […]
View More Alibaba’s growth slows to lowest in 3 yearsChina’s Nreal raises $15M to shrink augmented headsets to size of sunglasses
A former Magic Leap engineer believes the problem with most consumer-facing augmented headsets on the market is their bulky size. “You wouldn’t want to wear them for more than one hour,” Xu Chi, founder and chief executive officer of Nreal told me as he put on a bright orange headgear that looked just like plastic Ray-Ban […]
View More China’s Nreal raises $15M to shrink augmented headsets to size of sunglassesWhat China searched for in 2018: World Cup, trade war, Apple
Soon after Google unveiled the top trends in what people searched for in 2018, Baidu published what captivated the Chinese in a parallel online universe, where most of the West’s mainstream tech services including Google and Facebook are inaccessible. Google’s year in search 2018: the World Cup, Fortnite GIFs and Bitcoin China’s top search engine […]
View More What China searched for in 2018: World Cup, trade war, AppleAlibaba replaces video streaming boss amid anti-corruption probe
A top-level reshuffle is sending shockwaves across one of China’s biggest online video businesses. Yang Weidong has stepped down as the president of Alibaba’s video streaming unit Youku, the ecommerce operator confirmed to TechCrunch on Tuesday. Yang is understood to be assisting the police with an investigation into “an alleged case of seeking economic benefits,” […]
View More Alibaba replaces video streaming boss amid anti-corruption probeChina’s iQiyi to offer $500M convertible note as content costs balloon
Chinese video streaming service iQiyi is raising new cash as it feels the squeeze from surging content costs. The video business, which is owned by China’s online search giant Baidu, said on Wednesday that it will issue $500 million in convertible senior notes. Proceeds from the offering will go towards content and technology investments as […]
View More China’s iQiyi to offer $500M convertible note as content costs balloonTencent Music, China’s largest streaming service with 800M users, files for US IPO
This year has seen a number of tech companies that are majority or substantially owned by Chinese giant going public in the U.S. Baidu’s iQiyi service, Xiaomi-backed Huami and Viomi are a few examples, and now Tencent Music — the music division of Tencent, as you can guess — is making its run after plenty of […]
View More Tencent Music, China’s largest streaming service with 800M users, files for US IPOThe 21-day bitcoin challenge
There is a documentary series currently airing on iQiyi, China’s Netflix equivalent, about a Chinese bitcoin enthusiast who attempts to survive 21 days by merely living on 0.21 bitcoin, or $1,300, without any help or donations. He You Bing is traveling and carrying nothing with her, and she has to retrieve food, housing, and basic […]
View More The 21-day bitcoin challengeTelevision content creation in China
The biggest industry you’ve never heard of — until now.
View More Television content creation in China