Tencent injects 2 billion RMB towards original content

Tencent Holdings Ltd plans to pour money and resources worth 2 billion yuan ($294 million) into cultivating original content on its live streaming platform, as the internet conglomerate steps up efforts to connect social networking with live streaming to attract users.

QQ, the live streaming app operated by Tencent, said on Monday it will invest one billion yuan in cash and one billion yuan worth of resources to encourage people to produce more original content.

"After red-hot competition last year, the burgeoning live streaming sector is becoming more rational. We want to partner with more content producers to generate more diversified and differentiated quality content," Yin Yu, vice-president of Tencent, said.

According to Yin, the company will focus on content such as talent shows, tourism, e-sports, entertainment and other categories relevant to users.

Tencent will also offer core resources through its WeChat and QQ social networking platforms to empower original content producers' growth, Yin said.