TikTok’s China Rival Kuaishou and Tencent Nab Broadcast Rights to Tokyo and Beijing Olympics
Rebecca Davis editorChinese TikTok rival Kuaishou has sub-licensed the rights to the two next Olympic Games from state broadcaster CCTV, making it the first short video and livestreaming platform globally to become an official broadcaster of the Olympics.The deal comes a few weeks after Chinese tech giant Tencent also struck a deal with CCTV for official streaming rights.Kuaishou secured the short-form rights to both the upcoming Tokyo Olympics and the 2022 Beijing Winter Olympics in a deal last week with China Media Group, CCTV’s parent company.It comes as rivalry between Kuaishou and its fiercest competitor, the Bytedance-owned global sensation TikTok, is at a zenith, pushing the firm to seek ways to also expand its reach beyond China.