The annual MIPCOM gathering, held in Cannes, France, stands as a renowned global trade event in the realm of television and entertainment. This year, it took a distinctively eastern turn as China was celebrated as the 2023 Country of Honor, recognizing its mammoth contributions and burgeoning influence in the worldwide entertainment industry.
Among the central highlights of this illustrious gathering was Tencent Video’s presentation. The Chinese streaming titan offered deep insights into the ever-evolving Chinese domestic entertainment market, elucidating the shifting trends and preferences of its vast viewer base.
Addressing a rapt audience in MIPCOM’s signature Media Mastermind series, Sun Zhonghuai, who helms Tencent Video as its CEO, made an astute observation on the universality of content, stating, “good content transcends borders.” This remark underscores the global appeal of well-crafted stories and entertainment, regardless of cultural or geographical origins. Sun further delved into the abundant opportunities that lay ahead for cross-border collaborations in content creation and streaming, signaling Tencent Video’s openness to partnerships on a global scale.
Recent technological strides, especially in the domains of the Internet and Artificial Intelligence, have drastically reshaped China’s entertainment landscape. These technologies have driven a surge in online video consumption, propelling the number of users past the billion mark in 2023. This digital revolution has not just expanded the audience base but has made it more discerning, pushing the boundaries of content quality and creativity. Contemporary Chinese viewers seek content that’s a blend of enlightenment and entertainment, a dual demand that platforms are eager to cater to. Recognizing these shifts, major Chinese platforms, including Tencent Video, have pivoted their strategies to focus on original content creation.
Tencent Video, in its quest for excellence, has birthed numerous successful intellectual property works that resonate deeply with its viewers. Notable examples include the captivating sci-fi spectacle, “Three-Body” TV series, and the enchanting Chinese mythological romance, “Lost You Forever.” These in-house creations form the cornerstone of Tencent Video’s long-term vision. Alongside content, the platform places a significant emphasis on technology, consistently striving for innovations in the audiovisual sphere. As Sun articulated, “Technological innovation has been key to the success of China’s online video industry.” He champions the idea that cutting-edge technology empowers creators, enhancing their capacity to craft immersive experiences for viewers.
For audiences outside China, Tencent Video offers its vast programming repertoire through WeTV, its international streaming variant. WeTV boasts an expansive library, featuring over 10,000 hours of Chinese-language content, meticulously translated into 10 different languages. This endeavor ensures that China’s rich entertainment tapestry reaches audiences across the globe, with WeTV making its mark in over 100 countries and regions.
China’s acknowledgment as the Country of Honor at MIPCOM 2023 not only celebrates its cinematic achievements but also stands testament to its position as a global entertainment powerhouse.