Maoyan teams up with Tencent for foray into entertainment sector

Online film ticketing platform Maoyan Entertainment has announced a strategic partnership with Tencent to further tap into China's burgeoning entertainment market.

The tie-up is expected to build a top-level film marketing and distribution system, and leverage the two companies' resources, executives of the two companies said.

"Maoyan currently accounts for 60 percent of market share among China's online film ticketing service providers and we are eyeing more fields such as live performances, sports events, and exhibitions. The partnership is no doubt a strategic move for us to expand our entertainment content distribution network," Maoyan CEO Zheng Zhihao said.