Headlines from China: Tencent Aims to Become Biggest Shareholder of IQiyi

Tencent Aims to Become Biggest Shareholder of IQiyi

According to Reuters, Tencent Holdings Ltd is in talking with video streaming rival iQiyi in order to become its biggest shareholder. This plan, if carried out, will significantly change the landscape of Chinese video streaming industry, which is now dominated by iQiyi, Tencent Video and Alibaba-backed Youku. This plan aims to lower the costs of content acquisitions and counter competition in a increasingly crowded sector, said two people familiar with the matter. Currently no comments are made by either IQiyi or Tencent. Read more wow36kr

IQiyi Drops Another Novel-based Suspense Web Drama

Video streaming platform iQiyi just dropped the much-anticipated suspense web series “The Bad Kids”. Adapted from the popular novel from the famous Chinese mystery fiction writer Zijin Chen(pseudonym), this new web drama is part of iQiyi’s new initiative to promote self-produced high-quality suspense series. Most of these web series only have ten episodes. The 12-episode “The Bad Kids” will be streamed with two episodes each evening from Tuesday through Thursday every week. Read more movie-bigbang