Fast Company released the 2018 edition of the World’s Most Innovative Companies. Among the top 50 most innovative companies, Apple, Netflix, and Square were the top three. Tencent, which has been on the list for four consecutive years, surpassed Amazon and ranked fourth place in the list. Out of all Chinese companies, Tencent ranked first on the list.
Fast Company recognized Tencent’s achievements in 2017 by listing it at fourth place on its World’s Most Innovative Companies list this year. The company profile of Tencent says, “In November 2017, Tencent spun out its digital reading company, China Literature, which offers almost 200 million customers the chance to pay for sample chapters of 10 million books before committing to buying the entire work, in a $1 billion IPO.
China Literature intends to mine its library to develop movies, TV series, and other media to be distributed through WeChat. Tencent, which owns the world’s largest video-game company, has had success driving traffic to its games and now is starting to create TV and movie franchises based on its titles, as well as other intellectual property. It turned the hit King of Glory mobile game into a celebrity game show called Kings Attack for its video-streaming service.”
“Meanwhile, Tencent Music secured deals with the world’s major labels, and is now assisting Chinese musicians with copyright protection and promotion.” Fast Company thinks “Tencent’s WeChat messaging app is so popular that it has more users than there are smartphones in China. That’s because the app is far more than just a social media platform. Users can hail a taxi, look up a restaurant review, make a reservation, and pay for dinner, without ever leaving WeChat.”
The World’s Most Innovative Companies List published by Fast Company at the beginning of every year is one of the most recognized rankings. More than 30 senior editors, journalists and experts jointly conducted research on 36 categories of thousands of companies worldwide, and selected the most innovative and industry-influential companies into the global top 50 list. Fast Company intends to find out the best leaders in business and innovation, and the emerging stars across industries. World’s Most Innovative Companies List has always been considered an indicator of business value and investment.