China’s TenCent Video reaches 62.6 million subscribers

Chinese online video platform, TenCent Video, reached 62.59 million paying subscribers at the end of February, according to company stats.

The figure marks a 45.6% growth in paying subscribers in just five months, with the service previously announcing 43 million subscribers at the end of September.

Tencent Video said that in the fourth quarter of 2017 it reached an average of 137 million daily active users on mobile devices and claims to be China’s largest online video platform.

It attributed the success of its service to drama series and commissioned content – like The Nothing Gold Can Stay, Candle in the Tomb, and Country Love Story – and said it plans to continue to invest in premium content in 2018.

This year it will air drama series like Ruyi’s Royal Love in the Palace and Legend of Fuyao, as well as a number of variety shows, movies, documentaries and music programmes.

“At Tencent, we always endeavour to offer superior user experience and member services,” said Thirty Sun, vice president of Tencent and CEO of production company Tencent Penguin Pictures.

“We are dedicated to providing users not only privileges on content and entertainment, but also [a] lively and enjoyable viewing experience.”