Tencent Holdings has agreed to pay 1.8 billion yuan (US$284 million) to secure streaming rights for over 6,000 films and television series, as the Chinese social media and video gaming giant escalates efforts to retain the attention of online audiences, who are increasingly drawn to short video apps.

——Tencent signs US$280 million deal for streaming rights to 6,000 films and shows amid rivalry with short video apps, SCMP

Comment:

The rise of short video apps stimulate China's online video market. We should encourage original video creation with higher quality, emotion and depth to take the lead in online video market,while paying attention to copyright buying.