Tencent has taken a noticeable financial interest in Chinese video game live streaming platforms this week. According to China Money Network, the company has recently invested sizable sums into both the streaming platform Douyu and its competitor Huya.
The investment spree sees Douyu walking away with a $632 million investment from Tencent, marking the third time Tencent has invested in the company. Douyu, which additionally hosts entertainment and sports event streams, boasts more than 13 million monthly active users, leading other streaming platforms like Huya and PandaTV.
In the case of Huya, Tencent led its recent $461.6 million series B funding round and obtained the right to purchase additional Huya shares up until Tencent reaches 50.1 percent of voting power in the company.
“Supported by Tencent’s strong capabilities in game development, distribution and operation, Huya will march into a new era of building and maintaining the largest game live streaming and esports community for young generations in China,“ said David Xueling Li, chairman and acting CEO of Huya parent company YY, in a press release.