Tencent Allows Chinese TikTok To Show Copyrighted Films, TV Shows

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Tencent Holdings Ltd TCEHY requested ByteDance's Douyin to allow short videos, based on Tencent's copyrighted films and TV shows, to show on Douyin, Reuters reports.
Douyin is the Chinese version of TikTok.
Tencent's move meets the requirement from Chinese regulators to create an open internet, Douyin said.
Tencent was trialing a project to gradually allow third-party creators to use some copyrighted content in their works. It had also issued invitations to other platforms to help promote them.
WeChat users currently can share Douyin and Xigua links if they update to the latest version.
In August, Douyin removed thousands of user-generated videos related to a television series produced by Tencent Video following Tencent's copyright infringement lawsuit against Douyin.
Price Action: TCEHY shares traded higher by 0.48% at $62.76 on the last check Friday.