Short video platforms looking to upgrade, further monetize content By FAN FEIFEI | China Daily | Updated: 2021-01-12 09:15 Share CLOSE Performers sing at Kuaishou s booth during an agricultural fair in Chongqing in November. [Photo provided to China Daily]
Chinese short video platforms are banking on the fast-growing mini drama series segment as tech-savvy youth spend more time watching online short videos during the COVID-19 pandemic and exhibit heightened demand for high-quality original content, industry experts said.
They said competition among major video-streaming websites will focus on improving the production quality of content and better monetizing long-term content operations.
Short video app Tencent Weishi announced it will invest 1 billion yuan ($150 million) to support the development of new mini drama series this year, with each episode lasting from one to three minutes.
TikTok owner ByteDance has accused Tencent Holdings of blocking its cloud office suite Feishu on WeChat as China's tech giants fight for dominance in the enterprise collaboration market and the central government increases scrutiny of monopolistic practices in the tech sector. Xie Xin, ByteDance's vice-president overseeing Feishu, said the productivity app's WeChat mini program for cloud documents has been stuck in review limbo, without any.