Tencent bets $280 million on TV and movie content to fend off short video challenge

Tencent bets $280 million on TV and movie content to fend off short video challenge

Chinese tech giant Tencent has entered into a RMB 1.8 billion ($284 million) deal with Beijing Jetsen Technology, China’s largest film copyright holder, to purchase the streaming right to 6,332 films and TV shows, media outlet SCMP reports. The shows, including Hong Kong director Ann Hui’s biopic “The Golden Era”, will become available on Tencent’s platforms in the next six years. Tencent is beefing up its content investment as China’s long-form video platforms lose users to short video apps. Tencent Video has also filed lawsuits against Douyin owner ByteDance for copyright infringement and unfair competition over video clips from films and dramas. [SCMP]


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Author: admin