Will 5G Technology Change the Landscape of Online Streaming in China?
The implementation of 5G technology will inevitably bring various changes to the internet industry. In addition to the telecommunication sector and IT sector, China’s film and TV sector seems to have also been looking forward to 5G. At a recent industry conference in Chengdu, a Tencent executive says that the online streaming sector will face new level of competition upon the arrival of 5G. iQiyi CEO Gong Yu and Sohu CEO Zhang Chaoyang also expressed their opinions on 5G, seeing it as a new opportunity to grow. With 5G technology, video is expected to become more widely used as a medium to tell stories and convey messages. In addition, 5G will allow video platforms to offer more VR and interactive content. Read more on Ent Group
Alibaba Invests in Short-video Platform VMate
In recent years, short-video apps are undoubtedly darlings in the capital market. After Bytedance and Tencent, Chinese e-commerce giant Alibaba recently tapped into the short-video sector by investing in Indian short-video platform VMate. Incubated by UC in 2017, VMate targets young people in India. Alibaba chose to invest in a short-video product in India instead of China likely because the short-video market in China has been fully saturated. Read more on Ent Group
Universal Studios Beijing Is Confirmed to Open in 2021
At a recent event that promotes Beijing as a travel destination, a government official from Beijing Tongzhou District confirmed that the construction of Universal Studios Beijing (or “Universal Beijing Resort”) will be completed in 2020 and the theme park will open to the public in 2021. Along with the Universal theme park, two hotels and a shopping mall will also open for business at the same time. Located in Tongzhou District, Beijing, the theme park have seven themed zones, featuring Hollywood, Jurassic World, Waterworld, Kung Fu Panda, The Wizarding World of Harry Potter, Transformers, and Minions/Despicable Me. Upon its completion, the park will be the third Universal Studios-branded theme park in Asia. Read more on Mtime
