Douyin, China’s version of TikTok, calls a truce in war on long-form video with iQiyi licensing deal

• Douyin will be authorised to ‘recreate’ shows from iQiyi’s signature Light On channel, which includes nine already-released series in the crime and thriller genres
• iQiyi has been struggling with profitability, leading to lay-offs last year when it trimmed more than 30 per cent of workers in departments such as marketing and distribution