MTG online network eyes China with Tencent pact

MTG-owned online video network Zoomin.tv is setting its sights on China after partnering with domestic internet giant Tencent.

Zoomin.tv is now making video stories available via Tencent’s mobile messaging service WeChat, its social networking site Qzone and its news app Tian Tian Kuai Bao.

Zoomin.tv said it is targeting some 1.5 billion Chinese viewers across the Tencent platforms with its daily gen Z-focused video content, which is designed to give “ordinary and talented people a voice”.

“The company is growing fast and is now active in dozens of countries world-wide, from Europe to Brazil and from the United States to China,” said Zoomin.tv country manager Xue Wang.

“Zoomin.TV has been very successful in reaching Generation Z; the generation that consumes information and communication almost exclusively on their digital and mobile devices.”

Zoomin.tv works with 3,500 video reporters around the world and focuses on “inspiring, emotionally-compelling and empowering content” covering current affairs, social and environmental issues, and personal stories.

Zoomin.tv co-founder and COO Bram Bloemberg said: “The content-embracing strategy from Tencent to hook Generation Z to their platforms is smart and is playing out well for Tencent. They are simply one of the global leaders in this domain and we are proud to work with them together”.

Modern Times Group (MTG) bought a 51% majority stake multi-channel network Zoomin.TV for roughly €44.9 million (US$52.5 million) in July 2015.

MTG acquired the stake based on an enterprise value of €88 million, with the deal forming part of the firm’s strategy to invest in “relevant, complementary and scalable digital brands, content and communities.”