Chinese games, video and social media giant Tencent was Wednesday rebuked by China’s Ministry of Information Technology for illegal use of consumer data at its ubiquitous Weixin / WeChat super-app.…
was Wednesday rebuked by China’s Ministry of Information Technology for illegal use of consumer data at its ubiquitous Weixin / WeChat super-app. The move came just a day after another regulator, the State Administration for Market Regulation issued draft rules on competition and data privacy that may be among the toughest in the world.
The group reported revenues of RMB273 billion for the six months from January to June 2021, a 23% annual increase. Net profits climbed an annual 46% to RMB90.4 billion or a slower 17% to RMB67.2 billion , using the company’s preferred measure of profitability. The group made incremental progress with its Weixin / WeChat app, which increased its installed base to 1.25 billion users. SVOD subscriber numbers reached 125 million, a 13% year on year increase, that puts daylight between Tencent Video and its nearest video streaming rival iQiyi, which last week revealed 105 million recurring paying subscribers.
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