New Economy Forum
Inside Tencent’s Struggle to Bring World’s Hottest Game to China
- Tencent needs to navigate hurdles to make money from Fortnite
- Fortnite already has 10 million pre-registrations in China
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Tencent Holdings Ltd., the world’s biggest games company, needs some help from Fortnite, the world’s hottest game.
Just a few months ago, Tencent reigned as the most valuable company in Asia, but it has since suffered a record stock plunge that has wiped more than $140 billion off its market value. The primary reason: The Chinese government unexpectedly froze the approval of new games, including Fortnite, stunning investors and even Tencent’s management.