Cheetah Mobile has announced it has formed an even closer working relationship with Tencent, which sees its annual cap raise from $16.9m to just over $40m. In a press release, Cheetah Mobile states this is due to an increase in demand for its mobile advertising services by Tencent — which owns the WeChat mobile app, amongst others.
Sheng Fu, Cheetah Mobile’s CEO, said:
“We are pleased to deepen our strategic cooperation with Tencent and see the growing demand for our mobile advertising services from Tencent as well as advertisers on GuangDianTong, Tencent’s performance-based advertising system. We are confident that our large and growing global user base, with increasing user engagement, will further facilitate our progress towards becoming the leading global mobile advertising platform. Looking ahead, we remain committed to working with our global partners, delivering the best solutions available to meet their mobile advertising needs.”
It’s announced that during the first four months of 2015, Cheetah Mobile saw Tencent spend $10m, and that the original $16.9m cap had not been exceeded, even taking into account pre-booked content leading up to the end of 2015.
Cheetah Mobile has been strengthening its mobile advertising business this year, after purchasing MobPartner in March, then announcing the Cheetah Mobile Ad Platform in June.