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Tencent slashes games marketing budget, sources claim
- Friday | 9th November, 2018
“Marketing funds have been chopped back,” said one of the people, an executive with Tencent Games, asking not to be identified because of the sensitivity of the matter. Authorities in August called for the publishing regulator to control the number of new online video games and to limit the amount of time young Chinese spend playing such games. The move comes as Tencent, the world’s largest gaming company by revenue, and its peers have faced rising regulatory push-back from Chinese authorities, which have not approved any new games since March. BEIJING/SHANGHAI (Reuters) – Chinese tech giant Tencent is cutting the marketing budget for its key gaming division, two sources told Reuters on Thursday, amid a crackdown on the industry in the mainland and a lengthy freeze on new game approvals. In the internal memo, staff were told the move would help the company “endure the hard times together”, Bloomberg said.
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