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After varied copyright battles, two of China’s greatest tech giants discover frequent floor.
What Occurred: Tencent Video and ByteDance-owned Douyin have introduced a brand new section of collaboration after a collection of spats over Douyin platforms utilizing Tencent’s copyrighted movies. Now, each events have formally agreed to endorse content material sharing, permitting Douyin app customers to entry Tencent’s fashionable TV dramas with out infringing copyright.
Owned by ByteDance (which additionally owns TikTok), Douyin has 780 million customers, whereas the ever-present Tencent-owned WeChat boasts 1.3 billion customers worldwide. Tencent and ByteDance each prime the charts as China’s largest tech firms in an business that has confronted grueling authorities clampdowns over the previous few years.
The Jing Take: That is an attention-grabbing growth within the battle of China’s video and live-streaming apps, which have grow to be more and more fashionable purchasing and leisure instruments amongst Chinese language shoppers.
One in all China’s Huge 4 tech firms (the others being Baidu, Alibaba and Xiaomi), Tencent leads the sector when it comes to market cap and can also be a giant backer of Douyin’s rival, Kuaishou. Non-listed ByteDance has overseen the stratospheric and controversial rise of TikTok globally, in addition to that of Douyin at dwelling. Proceed to learn the total article right here
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