Fresh from test-launching its Resso music-streaming service, Bytedance is set to expand into another sector that will bring it into direct competition with fellow Chinese firm Tencent. That sector is mobile gaming, which drives huge revenues for Tencent already.
Bloomberg reports that Bytedance has “rapidly built a full-fledged gaming division to spearhead its maiden foray into hardcore or non-casual games”, including acquiring game developers and securing exclusive rights to some games. “It’s embarked on a hiring spree and poached top talent from rivals, building a team of more than 1,000. Its first two games from the venture will be released this spring, targeting both local and overseas players,” claimed the report. It also notes that Bytedance’s news app, Toutiao, is already a key channel for existing games firms to advertise in, which could be a powerful advantage when Bytedance rolls out its own games. TikTok (and its Douyin equivalent in China) could also be highly useful for Bytedance’s promotional push around its first games.
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