Tencent announced that it has signed a strategic partnership with Chinese social media platform Xiaohongshu (Rednote) for China’s top Honor of Kings competition, King Pro League. Under the terms of this new partnership, Rednote will become one of the official streaming platforms alongside gaming-focused live streaming platform Douyu and Huya, as well as the official KPL network of communities.
Financial terms of this new deal were not disclosed.
It’s the first time that Rednote has signed a partnership within China’s esports scene. According to Tencent, over 50% of viewers of KPL are women, while over 70% of users of the Rednote are also women. It should be noted that Tencent is a major investor in Rednote, currently holding a 13.19% equity stake in the company.
Rednote was widely recognized as the “Alternative Tiktok” in the West, especially following concerns that the U.S. government would ban the short-form video app in the country in January. According to Reuters, over half a million “TikTok refugees” from the U.S. flocked to Rednote after TikTok banned itself for a day on Jan 18-19.
Sources close to Rednote told The Esports Advocate, the new users from the U.S. could be in the 3M+ range. Rednote surged to the top position on Apple’s US App Store in January. According to Rednote, the platform’s monthly active users (MAU) have surpassed 300M, and over 60% of users are between 18-29 years old.