Benzinga | Nov 12, 2021 02:42PM EST

Tencent Allows Chinese TikTok To Show Copyrighted Films, TV Shows

* Tencent Holdings Ltd (OTC: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.