'Steady growth' vital to the industry's development, says head of Chinese streaming giant

Sun Zhonghuai, head of Chinese streaming giant Tencent Video gave his first public speech of 2024 at the 11th China Internet Audio and Video Convention in Chengdu, Southwest China's Sichuan Province. 

The platform has launched a series of high-quality content over the past two years, including TV series The Three-Body Problem and The Long Season as well as the hit show Blossoms Shanghai.

Commenting on this, Sun said that excellent works often appear in groups. 

"A high-quality work can have a strong demonstration effect and raise the level of the entire industry," Sun said, noting that their production was no accident, but stemmed from the accumulation and rapid rise of the entire industry over a long period of time. 

During this year's speech, the keywords Sun mentioned most was "sense of mission." He said that after more than 10 years of development, China's internet audio-video industry has long been a community with a shared future. For the Tencent Video platform, the mission is to continue to create a vibrant platform with high-quality content and support the steady development of the industry. 

In this context, he emphasized that content should be regarded as a cornerstone as he further proposed three key factors to achieve healthy development of the industry: first, changing growth models and providing more certainty to the industry; second, cultivating the creative enthusiasm of the industry; third, amid technological change, looking for the next point of strength.

In terms of changing growth models, what Sun mentioned most was confidence. He emphasized that building confidence requires certainty, and high-quality development also requires certainty. "We are not sitting on a roller coaster, but climbing a gentle slope. Ups and downs are meaningless to the industry. Only steady growth can accumulate more generous returns for the entire industry," he said.