Tencent is reining in its games marketing budgets as China’s industry freeze continues.
Bloomberg reports that an internal document is asking marketing executives to “endure the hard times together” by enacting greater control on cash flow and curtailing spending.
The big freeze
In doing so, Tencent will be withdrawing unused marketing funds from games that hadn’t been approved before the Chinese government froze the licence approval process. It is also halving branding budgets from more mature titles if those funds hadn’t yet been deployed.
China’s block on game approvals began earlier this year amid a government restructure, alongside both moral concerns and an apparent growing short-sightedness problem among Chinese youth.
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