China: Weiying-Maoyan merger creates giant movie ticketing service

Chinese social media and games giant Tencent is strengthening its position in cinema ticketing by backing the creation of Maoyan Weying. The move will further increase Tencent’s rivalry with Alibaba.

Maoyan, which already claims to be the ticketing market leader, is backed by online services group Meituan-Dianping in which Tencent has a significant stake. Weying, which has made similar claims, is built on Tencent’s WeChat platform and is part-owned by Tencent.

The combined company will use Maoyan as its foundation, and all Maoyan activities will be pooled into the new company, but it will also continue to be integrated with WeChat. Maoyan activities include movie and show ticketing services, film investment and promotion, and other industry services. Similarly, Weying’s movie ticketing business, show business and other related assets will also go into the combined company.

“The combination of Meituan-Dianping’s mega services platform, WeChat, and Maoyan Weying will provide better experiences to customers on our platforms and facilitate advancement in China’s online entertainment industry,” said Meituan-Dianping CEO.

Meituan-Dianping, Tencent, Enlight Media and Weying will continue to hold the majority stake of the combined company. It is understood that Enlight will hold 51% of the merged company, but that Tencent intends to increase its stake.

Full Content: Hollywood Reporter

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