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TikTok owner ByteDance acquires cinema ticketing platform

Beijing-based ByteDance, an internet technology firm, has acquired cinema ticketing platform Leyinghui Cultural Media Co and comic platform Yizhikan.

ByteDance, which also founded video-centric social media platform TikTok, has purchased Leyinghui from Shanghai-based Sky City Industrial Co. Leyinghui is a service provider of films, gifts, film entertainment marketing and other services.

The company covers over 8,000 cinemas across China with the platform supporting seat selection and multiple ways to pay online.

Leyinghui will transform into an online ticketing service provider alongside Douyin, the Chinese mainland counterpart for TikTok.

Douyin’s internal mini program for booking cinema tickets now lists Leyinghui alongside two other major online ticketing platforms in China, MaoYan and Tao Piao Piao.

ByteDance also acquired comic platform Yizhikan through its subsidiary, Beijing Dingzhen Technology Co. The Yizhikan app offers works including Chinese comics, Japanese comics and transverse comics.

The company now operates across multiple sectors including gaming, music, film and television production, cartoons, video streaming, news and novels.

Image: Jonatan Moerman on Unsplash