Tencent is set to enter the U.S. social media market by launching a live game streaming service similar to Amazon's Twitch in the U.S., according to Bloomberg.
Tencent has been quietly testing a mobile-focused streaming network through one of its U.S. affiliates since at least March of this year, according to the report.
Originally called "Madcat," the new service has now been dubbed "Trovo Live," and is very similar in appearance and functionality to Amazon Twitch.
In addition to Tencent's own popular games like Fortnite and PUBG Mobile, Trovo Live also focuses on games like Grand Theft Auto and Destiny 2.
This week, Trovo Live unveiled detailed plans on its website for a $30 million partnership program to attract and reward creators starting in July.
In China's domestic gaming and social media space, Tencent dominates and may be one of the few companies with the resources to challenge Twitch, according to the report.
But Tencent is also facing challenges in competing for online users in overseas markets, where Trovo Live is still a nascent service.
Trovo Live is still in beta testing and has yet to attract much attention outside of the gaming community.
Currently, Trovo Live's highest-attended live stream doesn't have much of an audience, but the chat channel has over 5,000 members.
It has attracted some experienced creators from Twitch, YouTube, and Microsoft's soon-to-be-discontinued Mixer platform.
Like Twitch, Trovo Live has a live channel showcase, a sidebar where you can chat with other viewers, and channel recommendations that highlight the most popular active creators.
It also offers paid subscriptions and rewards for viewers to support their favorite streams. Another similarity to Twitch is the tiered co-op program, which aims to encourage gamers to join and promote the service.
Trovo Live says in its terms of service on its website that it is an affiliate of Tencent, but it doesn't elaborate.
The document lists a contact address that matches Tencent's U.S. headquarters address in Palo Alto, California.
Tencent has been aggressively expanding its online streaming assets in recent months.
In April, Tencent spent $263 million to acquire control of Tiger Teeth Live.
This week, Tencent also confirmed the acquisition of a controlling stake in Iflix, a Southeast Asian streaming service.
Tencent confirms purchase of Iflix to boost its global streaming services
