Bulletins

Tencent restructures its social media business

Tencent restructures its social media business
SHENZHEN, CHINA - AUGUST 19: A woman walks outside the headquarters of Tencent on August 19, 2020 in Shenzhen, Guangdong Province of China. (Photo by VCG/VCG via Getty Images)
VCG / Contributor/ Getty Images
Tencent announced on Thursday an internal restructuring plan for its social media and content businesses, according to Chinese financial outlet Jiemian.

Yao Xiaoguang, the director of Tencent's hugely successful gaming studio TiMi, will hold a concurrent post as the new head of communication app QQ. The app is Tencent's first blockbuster software, but has been facing declining popularity since WeChat launched in 2011. Earlier this month, Reuters reported that TiMi, developer of the hit game Honor of Kings, generated revenue of $10 billion in 2020.

Tencent is also consolidating its streaming platform Tencent Video and short video platform WeSee into one department.

Zeyi Yang

Zeyi Yang is a former reporter with Protocol | China. Previously, he worked as a reporting fellow for the digital magazine Rest of World, covering the intersection of technology and culture in China and neighboring countries. He has also contributed to the South China Morning Post, Nikkei Asia, Columbia Journalism Review, among other publications. In his spare time, Zeyi co-founded a Mandarin podcast that tells LGBTQ stories in China. He has been playing Pokemon for 14 years and has a weird favorite pick.

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