About: http://data.cimple.eu/news-article/79d1deb9bb0a625b551b4847d8caba23da332fd624e49f2d14ada417

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About: http://data.cimple.eu/news-article/79d1deb9bb0a625b551b4847d8caba23da332fd624e49f2d14ada417 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Chinese internet giant Tencent said Thursday it had bought some assets of struggling Asian streaming service iflix, in a major expansion of its online video presence in the region. Western firms, led by Netflix, dominate streaming globally but companies from the world's number two economy have been taking tentative steps outside their home market recently. Tencent said it had purchased the "content, technology and resources" of Malaysia-headquartered iflix, which operates in 13 markets in South and Southeast Asia. "This is in line with our strategy to expand our international streaming platform, WeTV, across Southeast Asia and provide users with international, local and original high-quality content," the company said in a statement. The company did not reveal the value of the deal but entertainment outlet Variety said it was worth "several tens of millions of dollars", citing sources familiar with the agreement. The range of content on iflix includes many original shows catered for local audiences. It gives away some content for free while making money from ads, while also offering a subscription-based premium service. The company, launched in 2015, was reportedly poised for an IPO in Australia but ditched the plans after the coronavirus pandemic sparked turmoil in stock markets across the world. It was then forced to seek bids from other companies, Variety reported. Tencent is one of the world's biggest online gaming companies, but has been seeking to expand into new areas. It launched its first overseas video streaming service in Thailand last year but the iflix purchase is a far bigger move. A major competitor at home, Baidu-controlled iQiyi, has also started expanding in Asia but has only taken small steps so far. Tencent reported in May a sharp rise in first-quarter net profit after a surge in demand for its online games as the coronavirus pandemic forced people to stay at home. sr/qan
schema:headline	China tech giant Tencent expands into streaming in Asia
schema:mentions	Making Money Initial public offering Southeast Asia Asia Netflix Thailand Australia Pandemic China Iflix We TV IQiyi Small Steps (novel) Variety show Tencent
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-25 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	81 (xsd:integer)

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