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The number of Chinese users paying for knowledge will hit 387 million this year.

And access to the app is only allowed between 6 a.m. and 10 p.m.

The live streaming business is Kuaishou’s main revenue source, contributing 90% of the firm’s total revenues.

Dominance of Youku, iQiyi and Tencent Video adds to film industry’s “cold winter,” a state newspaper says.

Tencent would own 20% of Kuaishou after the completion of the deal.

ByteDance, YY.Inc and Kuaishou expand their rivalry overseas.

ByteDance comes in second behind Alibaba but ahead of Baidu in China’s digital media spending market by revenue.

TikTok also seeks to launch music streaming app in India next month.