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In addition, new launches are set to galvanize the industry: Oculus Quest 3 (Meta just signed a preliminary agreement with Tencent Holdings to sell a budget-friendly version of its mixed reality goggle), the soon-to-be-released Apple Vision Pro, and products from ByteDance-affiliated Pico. Resources are being devoted to develop this space.

The ad spending winter of 2022 and early 2023 was mild and short-lived, as we predicted. And after a solid H2 2023, things are looking up across the board for 2024.

For example, in China, it is held by CCTV, and so they have some sort of like symbiotic relationship with streamers, streaming services like Alibaba, [inaudible 00:12:56] Youku, and Tencent Video, but I think majority of the people still kind of watch it on CCTV, on the linear television.

Its parent company, Tencent, is now making a big push to monetize Channels through advertising and social commerce, including livestreaming. WeChat Channels is gaining traction. According to Tencent, sales through Channels grew eightfold YoY in 2022. In addition, livestreaming ecommerce sales on the super app jumped 150% in the same quarter (likely from a lower base).

When stores closed at the start of the pandemic, luxury brands leaned heavily on the Tencent-owned super app WeChat for clienteling via private groups and live video consultations with sales associates. These channels are now being used to offer high-touch, always-on customer service, with a shift in focus to supporting stores, where purchases can be completed with the full luxury experience.

Whereas in China, only short-form video platforms and Tencent are truly competitive with the likes of Alibaba and co. Still, business is booming. Retail media is having its moment in the US, where we project it will outpace all other forms of advertising over the next several years.

ByteDance, Microsoft, and Tencent crossed the $10 billion threshold already, and Kuaishou, Apple, JD.com, and Baidu will join the ranks over the next year or two. By contrast, no platform that primarily features connected TV, entertainment, news, arts and culture, ratings services, or digital audio is anywhere close to that level.

The company projected $400 million in Q3 sales to Chinese firms like Alibaba, Tencent, Baidu, Didi, and Lenovo鈥攁 loss of profit that will affect future product development. AMD said the measures could affect sales of one of its high-end GPUs but did not believe the restrictions would have a material effect on its business, per The New York Times.

JD.com, Alibaba, and Tencent laid off thousands of employees in April due to tightened regulations and a slowing economy. Some investors were already calling parts of China uninvestable in May, before the news of Xi鈥檚 third term and government shuffle. What鈥檚 next?

Whereas in China, only short-form video platforms and Tencent are truly competitive with the likes of Alibaba and co. Still, business is booming. Retail media is having its moment in the US, where we project it will outpace all other forms of advertising over the next several years.

If it were detached from Google, YouTube would still be the sixth-biggest global ad player, ahead of Microsoft and Tencent, according to our forecast. 2. TikTok is on YouTube鈥檚 tail. Meta will account for 30.1% of US video ad spend this year, or $25.34 billion, according to our forecast. That puts Meta ahead of the competition by a lot.

To satiate this intense consumer demand, Alibaba, Baidu, and JD.com are already working on several new AI products, while rumors abound about systems being developed by other Chinese tech giants like Tencent and ByteDance. Regulation has held the market back but may position it for robust future growth.

Immediate effect: The merger will make Microsoft the 鈥渢hird largest gaming company by revenue, behind Sony and 罢别苍肠别苍迟,鈥� the company said when it announced the deal in 2022.

Super apps: Platforms like Alibaba and Tencent created combination entertainment and shopping platforms that feature mobile payment solutions. In comparison, US shopping platforms lack a social/entertainment factor, while US social platforms don鈥檛 inherently have mobile wallet features.

The list of sunsetted publications is long but includes Mel Magazine, Tencent-owned gaming site Fanbyte, Astra Magazine, and Input. The winner: Digital publishing businesses have struggled to replace dwindling advertising revenues. But a small few have emerged from the post-Trump Bump unscathed, and are positioned to bounce back with even more of an advantage.

The bigger picture: As regulators tighten their grip on Tencent and rival Ant Group, these players are building stronger ties with global payment providers to bolster business. Tencent is tapping demand from global money transfer players that want to enter China鈥檚 remittance market.

China鈥檚 government has reportedly taken a 鈥渃ontrolling interest鈥� in gaming giant Tencent, per Windows Central. Beijing鈥檚 penchant for regulation and censorship could affect how Western companies deal with Tencent. Can China鈥檚 Big Tech turn things around? Beijing鈥檚 softening stance on China鈥檚 Big Tech companies is the beginning of a new agenda to kickstart its flagging economy.

The latest in China鈥檚 AI race: Alibaba鈥檚 AI push comes on the heels of competing releases from Tencent and Baidu, just as Beijing formalizes AI regulation. The two new models, Qwen-VL and Qwen-VL-Chat, will be open source鈥攚hich will let researchers, academics and companies create their own AI apps using Alibaba鈥檚 technology.

But Tencent is a really interesting one that I hadn't thought of. That would be a big one. Marcus Johnson:. All right, time for some grades. What grade would you give Spotify for their Q4 and then also for their 2023 performance? Daniel Konstantinovic:.

So Tencent, then Sony and their PlayStations. So Tencent one, Sony and their PlayStations two. Okay, so then it would make Microsoft three, Nintendo four. What does this mean for advertisers, this deal? Daniel Konstantinovic:. Like Gadjo said, mobile advertising is also a really big part of this deal.

The next closest competitor, Tencent, will claim 2.1%. Google and Meta are not the only companies facing substantial growth declines. Most of China鈥檚 largest players (other than TikTok) are also feeling the crunch. Alibaba and Baidu have been hit hard by China鈥檚 new regulatory regime and faltering economy. Meituan鈥檚 growth is still in the double digits but has declined drastically.

In China for Tencent, it was social messaging. And then you had all these mini programs, like mini apps within Tencent built on top of that that enabled commerce and payment for services. And for Alibaba it was also e-commerce and especially mobile commerce. And from there they were able to expand with payments as a base into so many other services. So we haven't yet seen that link.