ByteDance And Tencent To Come To An Agreement On Cooperative Marketing On Short Films

Based on a post on Douyin's WeChat account on Friday, China's IT giants ByteDance and Tencent have just established an agreement to investigate cooperative marketing of short and lengthy films.

ByteDance Ltd. is a Chinese internet technology corporation based in the Cayman Islands with headquarters in Beijing. ByteDance, founded in 2012 by Zhang Yiming, Liang Rubo, and others, developed the video-sharing social networking services and applications TikTok and its Chinese equivalent Douyin.

Tencent Holdings Ltd. is a Shenzhen-based Chinese multinational technology and entertainment corporation and holding company. It is one among the world's highest-earning multimedia enterprises in terms of revenue. Tencent Games, a part of Tencent Interactive Entertainment Group (IEG) focusing on game publishing, is also the world's largest corporation in the video game industry in terms of investments.