Analysis Report on Tencent Video Products – Episode 2 of Industry 2 in the 20-Week C-End Industry Series

1. IntroductionIn the previous article, we analyzed the functional details of iQIYI, and interested readers can check out the past issues.If you want to see iQIYI, you can click on:iQIYI Product Analysis Report2. Tencent Video in the Long Video IndustryNext, we will analyze the features of Tencent Video and summarize its users and usage scenarios.| 1 ConclusionTo start with the conclusion, the positioning and scenarios of Tencent Video are as follows:

Time Period Details

Positioned as the largest online video media platform in China, with the brand concept of “Not Wasting Good Times.” It is a comprehensive video content platform that aggregates popular films, variety shows, sports events, and news information.

Core Users: Covers all age groups, primarily family users and IP enthusiasts, with a higher proportion of male users (due to anime and sports content), British and American dramas.

Typical Scenarios: Watching exclusive IP dramas (e.g., “The Three-Body Problem,” “Joy of Life”), domestic animations (e.g., “Soul Land”), and live NBA events.

Special Features: Long and short dramas, broadcast content (American dramas, British dramas, etc.), self-produced cooperative content (anime) (X Theater)

Projected annual revenue of 30 billion.

| 2. Development History

Time Period Details
2011-2015

Key Events:

  • April 2011: Tencent Video officially launched, using the original Tencent Podcast domain v.qq.com, and integrated QQLive resources, initially focusing on purchasing copyright content covering film, variety shows, and sports.

  • January 2013: Launched the “Hollywood VIP” paid service, allowing users to stream Hollywood films, initiating the long video paid model.

  • November 2014: Reached a strategic cooperation with HBO, exclusively introducing classic series such as “Game of Thrones” and “The Newsroom,” enhancing content competitiveness.

  • March 2015: Launched the “Shock Plan,” signing 100 PGC projects to support original content; in November of the same year, cooperated with TVB to exclusively introduce over 600 new dramas each year.

  • 2015: Penguin Pictures was established, marking Tencent Video’s shift from copyright procurement to a dual-driven model of “copyright + self-production.”

Development Characteristics:

  • Content Reliance on Procurement: Initially focused on purchasing domestic and foreign film copyrights, gradually building a content library.

  • Mobile Explosion: Seized the opportunity of 4G popularity, with mobile users increasing from 30% to 70%, rapidly growing the user base.

  • Exploration of Paid Models: Tested membership fees through “Hollywood VIP,” laying the foundation for subsequent commercialization.

Major Changes:

  • Strategic Positioning Upgrade: Transitioned from a simple video playback platform to a core content layout within Tencent’s digital ecosystem, paving the way for future self-production and internationalization.

2016-2018

Key Events:

  • June 2016: Launched the children’s exclusive platform “Little Penguin Paradise,” expanding into niche markets.

  • 2017: Updated the logo to enhance brand recognition; the self-produced drama “The King’s Avatar” reached 4.5 billion views, with a Douban rating of 8.1, becoming an industry benchmark.

  • February 2018: Paid membership exceeded 62.59 million, becoming China’s largest video paid platform.

  • August 2018: Collaborated with iQIYI, Youku, and six major film companies to resist “sky-high salaries,” promoting industry standardization.

Development Characteristics:

  • Rise of Self-Produced Content: Phenomenal variety shows such as “Produce 101,” “Tomorrow’s Sons,” and “Roast Battle,” along with dramas like “Ruyi’s Royal Love in the Palace” and “Feng Qi Longxi,” became traffic leaders, significantly enhancing user stickiness.

  • Increased Technological Investment: Introduced 4K, VR, and other technologies to enhance viewing experience and promote industrialization of content production.

  • Consolidation of Industry Structure: Formed a competitive “Big Three” with iQIYI and Youku, further increasing market concentration.

Major Changes:

  • Organizational Structure Adjustment: Penguin Pictures deeply involved in content production, transitioning from a procurement party to a content producer, gaining control over the industry chain.

2019-2023

Key Events:

  • 2019: Paid membership exceeded 100 million, with daily coverage of over 200 million users across the platform; launched the overseas site WeTV, entering the Southeast Asian market.

  • 2020: Released the mid-video strategy to support creators; launched innovative features such as “Cautious Viewing Mode” to optimize user experience.

  • 2021: Integrated with Weishi to establish the “Online Video BU,” strengthening the linkage between long and short videos; introduced the “Single Payment” model to enrich commercialization methods.

  • 2023: Collaborated with Douyin to enter the Douyin platform, expanding content distribution channels; dramas such as “Joy of Life Season 2” and “Blossoms” became nationwide hits.

Development Characteristics:

  • Content Quality Enhancement: Works like “The Untamed” and “The King’s Avatar” balance traffic and reputation, driving the industry from “quantity” to “quality” transformation.

  • Deepening Ecological Synergy: Interlinked with Tencent’s businesses such as WeChat, QQ, games, and music, forming a full IP industry chain development (e.g., “The King’s Avatar” literature – anime – film linkage).

  • International Layout: WeTV covers over 100 million users in the Southeast Asian market, with content like “The King’s Avatar” sparking discussions overseas.

Major Changes:

  • Strategic Shift: Transitioned from competing for user scale to enhancing user stickiness and content premium, breaking growth bottlenecks through technological empowerment (e.g., real-time rendering engine) and a global perspective.

2024-2025

Key Events:

  • Ultra-high-definition content proportion increased to 40%; “Joy of Life 2” set an advertising record, with over 30 brands competing for investment.

  • Q1 2025: Paid membership reached 117 million, but growth slowed; initiated AI and overseas dual engines.

Development Characteristics:

  • Reducing Output, Focusing on Top Quality; technological empowerment of the production process significantly increased content success rates.

Major Changes:

  • Shift from “Content-Driven” to “System Capability Building,” reconstructing the growth model through organizational synergy, AI technology, and globalization.

Tencent Video has evolved from a “latecomer” in 2011 to an industry leader, undergoing three major transformations: from copyright procurement to self-produced content, from traffic competition to quality operation, and from local market to global layout. Its success is attributed to the traffic support of the Tencent ecosystem, continuous content investment, and keen grasp of technological trends. In the future, it will continue to explore new growth points in full IP industry chain development and internationalization.

| 3 User AttributesAnalysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry SeriesAnalysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry SeriesBy examining the user profile and age distribution of Tencent Video, it is found that iQIYI’s dramas mainly focus on anime, British and American dramas, and realistic content, with a higher male proportion of nearly 70%, and the content is also inclined towards current youth themes.|4 Core Function Module DiagramThe core functions of the software best reflect who the target users and scenarios are, who it is used for, and whose problems it solves. Here, we only count the core functions to look at the target users.Function Module Diagram:Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry Series

flowchart TD
    A[Core Functions] --> B[Homepage]
    A --> C[Short Dramas]
    A --> D[Member Area]
    A --> E[Good Movies]
    A --> F[Personal Center]
    
    B --> B1[Short Videos]
    B --> B2[TV Dramas]
    B --> B3[Anime]
    B --> B4[Movies]
    B --> B5[Variety Shows]
    B --> B6[Children]
    B --> B7[NBA]
    B --> B8[Follow Series]
    B --> B9[Games]
    B --> B10[Documentaries]
    B --> B11[Sports]
    B --> B12[Short Programs]
    B --> B13[Knowledge]
    B --> B14[Games]
    B --> B15[Esports]
    
    C --> C1[Watched]
    C --> C2[Recommended]
    C --> C3[All]
    
    D --> D1[Video Membership]
    D --> D2[Sports Membership]
    
    F --> F1[Watch History]
    F --> F2[Favorites]
    F --> F3[Personal Settings]

| 5 Function AnalysisDue to the uniqueness of long videos, Tencent Video has mainly developed web, PC, app, and TV platforms. Next, we will detail the app’s functions.| 5.1 HomepageThe homepage changes according to different users, with recommended content usually consisting of a main title and a subtitle, where the main title is the primary content, and the subtitle is what can most resonate with users.Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry SeriesExcellent Design Points of the Homepage:

  • Consider why the waterfall flow changes style after scrolling; it first uses small images and then large images. Essentially, the further down, the more ambiguous the match becomes. If users are interested in video content, it first attracts them with large images, then provides a descriptive text.

| 5.2 Playback PageThe playback page of Tencent Video prioritizes high-frequency operations in the playback module.More content recommendations are also based on the relevance tags of the same series for similar recommendations.Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry Series| 5.3 Free Short DramasThe free short drama module displays short drama content.Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry Series| 5.4 Member Area

For ambiguous or self-created content, there are subtitle prompts that can quickly indicate what this means. However, Tencent’s subtitles compared to iQIYI are not particularly well-written; they are still too vague, similar to not writing them at all. For example, basic value-added rights or family rights are unclear, while iQIYI directly displays multi-device login or ad-free effects, which is more effective.

Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry Series| 5.5 Good Movies

Good Movies, compared to iQIYI, is similar to the Wind and Cloud Ranking function, where users frequently search for content. Tencent’s search categories are more detailed than iQIYI’s, aligning better with user search habits.

When displaying movie content, it also shows the most concerning content tags, such as actors, ratings, etc.Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry SeriesExcellent Design Points of the Classification Module:

  • How to design the classification module? When thinking about this, consider how offline scenarios are conducted, and analogize to online (do not create scenarios out of thin air), just like when you choose a movie in a cinema, you first filter through preferred categories from top to bottom.

| 5.6 Personal CenterThe personal center still displays basic user information without any particularly special content.Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry Series| 6 Revenue Model and Payment PointsThe long video industry differs from tool-based industries; payment points mainly involve paying for film resources for early viewing or charging for certain series, with core competitiveness lying in the uniqueness of the series.

Membership Type Price
Continuous Monthly First month 16 yuan, renewal 25 yuan
1 Month 30 yuan
Continuous Quarterly First quarter 50 yuan, renewal 68 yuan
3 Months 60 yuan
Continuous Yearly First year 178 yuan, renewal 238 yuan (renewal price is also more expensive than 1 year)
1 Year 198 yuan

Revenue Estimate:Based on publicly available financial report data and broker predictions, Tencent Video has 370 million monthly active users, with 114 million paying users (30.8%), averaging 25 yuan per month, with an annual revenue forecast of over 30 billion.| 7 User FeedbackFrom social media comments, the main differences in the long video industry are perceived to be in video content, with little difference in functionality and experience.Analysis Report on Tencent Video Products - Episode 2 of Industry 2 in the 20-Week C-End Industry SeriesFinally, today’s analysis report on Tencent Video products ends here. If you find it helpful, please follow, like, and share!

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