Tencent’s plan to reposition Weishi comes because the short-video app has fallen behind rivals Douyin and Kuaishou.
Tencent Holdings Ltd. mentioned it’ll reposition its Weishi app to concentrate on movie and TV content material, because the short-video platform struggles to win customers in an more and more saturated home market dominated by Douyin and Kuaishou.
Weishi will pivot away from sharing user-uploaded movies and as an alternative provide TV and film clips, assist to distribute Tencent’s licensed content material, and construct a system to redistribute works by different creators, Solar Zhonghuai, the know-how big’s vp, mentioned Monday at a press convention in Shanghai.
The announcement comes after the Hong Kong-listed agency built-in Weishi and several other different platform and content material choices into a brand new on-line video enterprise unit headed by Solar, in an effort to boost profitability and high quality. Learn extra Caixin World