Tencent: Combining Technology and Culture

By: Elie Ofek and Dawn Lau and Billy Chan

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Synopsis: Tencent, one of the largest Internet conglomerates in China, had a vision to become a "Tech+Culture" firm. With dominant market shares in online games and social networking, it had built a vast Internet-based entertainment ecosystem, and was now focused on cultural asset development. Specifically, the company had an opportunity to develop a media franchise that was rich in Chinese cultural elements and had the potential to turn into a blockbuster franchise comparable with Disney's Marvel Cinematic Universe. Edward Cheng, the company's vice president, had to decide how to launch the franchise - whether it should start with a game, movie, a streamed series, or something more innovative. He also had to consider how to promote Chinese culture and project the country's image to a foreign audience.