Chinese movie-ticketing leader Maoyan says to boost film investment, Tencent partnership

BEIJING: Maoyan Entertainment , China's leading movie-ticketing platform, said it would boost investment in the domestic film industry and deepen its partnership with Tencent Holdings Ltd , as it works to halt a downturn at cinemas.

Box office revenue slumped 2.7per cent in the first half of 2019, showed data from Maoyan, while the number of movie-goers fell 10per cent. Analysts noted the downturn coincided with a slowdown in domestic consumption at a time when a trade dispute with the United States threatens to impact an already softer economy.

However, the ticketing market is approaching saturation and so Maoyan aims to expand further in content investment and distribution, Zheng said."Over the years we have built up our strength in ticketing, distribution and media, and now we have newly created capital for maneuverability," Zheng said.

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