Industry

Tencent Churns Out New Video Dating App

Feb 11, 2020, 12:06pm2020/02/11 12:06:58 AJ Cortese

This move is yet another example of Tencent<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />’s strategy of fostering internal competition to increase overall market competitiveness. Other companies competing in this space include HUYA, a game streaming platform, and Momo<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />, a chat and social company.

Shenzhen-based Tencent released their first social app of 2020, a video dating app called Qingyuan, which arranges blind dates via video call. This launch comes right on the back of Tencent<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />’s other social dating app Huanyu, which was launched in December 2019.

SEE ALSO: Tencent Launches New ‘Anonymous’ Dating App, Dengyu Jiaoyou

The app incorporates the virtual gifting feature popular with many streaming platforms like YY and Douyu<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />. Unlike Tencent<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />’s last dating app, Qingyuan requires real name ID authentication to register and asks users to fill out their preferences for dates.

Qingyuan will be part of Tencent Music Entertainment (TME), a music based spin-off from Tencent<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />. TME has benefitted from the success of its social services, which makes up a significant portion of their revenue. The company still has lots of room for growth in terms of revenue from music streaming services.