Tencent Holdings said it will reposition its Weishi app to focus on film and TV content, as the short-video platform struggles to win users in an increasingly saturated domestic market dominated by Douyin and Kuaishou.
Weishi will pivot away from sharing user videos and instead offer TV and movie clips, help distribute Tencent's licensed content, and build a system to redistribute works by other creators, Vice President Sun Zhonghuai said during a Monday news conference in Shanghai.
